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Oil reserves

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Geology

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When will we run out of oil?
While some may argue that oil, like other fossil fuels, is technically a renewable form of energy,
the amount of time it takes for its formation makes it a limited resource. The oil reserves that we
rely upon and those available worldwide took millions of years to form. Therefore, oil supplies
are limited since we are extracting more than is been formed.
Scientist estimate that it takes millions of years, even over 600 million years, for fossil fuels
including oil to be formed from dead organisms buried in the ground. Therefore, were we to run
out of oil, then it would take about the same time for the earth’s natural processes to produce
more. Estimating how much longer the earth’s oil reserve will last however is a speculative
endeavor. Peak oil theorists suggest that we have reached the stage of declining oil reserves and
that by our current rates of extraction, it won’t be long before oil reserves run out. Rough figures
suggest that this could be in as little as fifty years but this is up for debate.
Scientist are divided on their predictions regarding future oil supplies. This is because it is based
on a number of factors which are always changing. One is the development of new mining and
drilling techniques year after year which allow us to drill more oil. New reserves are also being
discovered everywhere across the globe that require predictions to be recalculated. Future oil
supplies will also be determined by political and cultural factors such as the use of more
environmentally friendly forms of energy which will relieve the pressure on current oil reserves.

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When will we run out of oil? While some may argue that oil, like other fossil fuels, is technically a renewable form of energy, the amount of time it takes for its formation makes it a limited resource. The oil reserves that we rely upon and those available worldwide took millions of years to form. ...
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