>>13813194Oil will last for 50 years*
*with current proven reserves and refining techniques
What many of these people neglect to mention is that as supply goes down, price goes up, and exploration of new wells becomes financially viable again.
Current oil drilling techniques only extract around 20-40% of any given well, meaning there are enormous reserves available, but they're more expensive to extract, and so they aren't worth the extra time/effort/energy.
When oil climbs back over $100 a barrel, Canada will start using tar sands more. Wells will extract deeper. New locations will be explored, and so on.
New refining techniques may not be worth the cost right now, new extraction technologies may not be worth the cost.
50+ years is the LARGEST oil reserve we have had in a very long time.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3866386/Don't worry about supply, the supply will be there, worry about what all these new extraction techniques and carbon emissions will do to the environment.
But don't buy into the hype of "We're RUNNING OUT OF OIL!" We're not. Not any time soon anyway. We're running out of "easily and cheaply accessible oil at known locations."
