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Lochloosa

(16,733 posts)
1. Lot's of articles on this. BP estimates 53 years left. That will change as we move away from oil.
Fri Sep 29, 2017, 12:13 PM
Sep 2017

Don't think we will run out.

Oil is one of the earth's most valuable non-renewable resources, and these types of resources are named so because they are-well, non-renewable. Although there is plenty of organic matter that could potentially become oil over the next few million years, it is likely that humans will one day see the end of black gold as we know it.

So just how much oil do we have left? For decades, oil production has been steadily increasing, and energy experts have been attempting to calculate when we might run out. Those that have been following along will note that, despite the warnings of many would-be Nostradamuses, production is still on the rise and previous dead-end predictions have been pushed back.

The difficulty with estimating the amount of oil available for human use comes from varying definitions about how we should calculate our potential reserves. For example, one of the most-cited estimates comes from BP's BP prediction made on World Energy Day in 2014; based on reserve estimates of 1,687.9 billion barrels, BP claimed the earth has enough oil left for about 53 more years at current production levels.

http://www.nasdaq.com/article/how-much-oil-is-left-in-the-earth-cm711409

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