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Is oil running out?

The most important question which affects everybody in the world. Is oil running out? BP Chairman in Davos recently stated World wide demand for oil will for the first time exceed production in less than 7 years. World proven reserves are 1,317 billion barrels. World consumption now is 100 million barrels per day. Most optimistic calculation says oil runs out in 30 years from now. No escape via bio fuel – every ton produced costs two tons of energy.
Peter Walker from Buckinghamshire (Age 55+)

What would happen if all the oil ran out?
Emily from Bournemouth (Aged 5-14)

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One Response

  1. Yes, oil is running out, it is inevitable that oil production will have to start slowing shortly. Hence the repeated talk among environmental circles about “sustainability”- the current use of oil is not sustainable.

    If all the oil ran out, we would need to turn to alternative energy sources, such as renewable resources, and possibly nuclear (which is a somewhat contentious energy source). If we don’t develop these alternatives much by the time oil runs out, we’ll probably end up with a huge decline in quality of life- nothing to power our computers, cars etc. Economically, probably a large recession.

    I thus believe that it’s important to work towards using alternative, sustainable methods of development as soon as possible, rather than waiting for oil to run out and then taking action.

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