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How much oil is there left?

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  • How much oil is there left?


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Answer #1 | 20/12 2013 18:43
there's plenty of oil - enough to last hundreds of years. the only problem is that the remaining oil is more expensive to extract.
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Answer #2 | 21/12 2013 05:44
Plenty. It is perpertually self-renewing. Energy scarcity tale is a lie, but it keeps prices high.
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Answer #3 | 21/12 2013 07:38
There's still lots of it. It is the easy-to-extract/easy-to-produce 'cheap oil' (aka 'conventional oil') which you should worry about as the world is increasingly running out of it (due to depletion on one hand and increased demand on the other). The fact that more and more companies are switching to/starting with unconventional methods of producing oil (ie, heavy oil and oil sands) is indicative of just how much 'cheap oil' is left. Since the production of unconventional oil is still (much) more expensive than that of conventional oil, don't be surprised to see the price of oil (ie, for your car) rise in the foreseeable future.

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