Oil production has tailed off due to dwindling and harder to extract sources. Some predictions for the beginning of oil shortages and price spiking show as soon as 20 or 30 years. More common predictions say we have enough oil to last the world anywhere from another 50 to 150 years.
There’s little consensus on how long oil will last because of the difficulty of the process of assessing the remaining sources. In any case, there is a finite amount of oil and the world needs to ween themselves off of the resource to ensure its sustained existence.
I think that the world has about 75 to 100 years left of oil use. I would think that if we were in any real danger of running out anytime soon, that the governments would be taking greater action to build more sustainable countries. However, this doesn’t mean that we shouldn’t be taking action now. After all, oil is a limited resource and any efforts made to conserve it will only help us in the long-run.
I think that its also important to note that just because oil will be available, doesn’t mean that it will be affordable. As the supply drops, the cost is going to shoot way up, and eventually it will probably get expensive enough that a lot of us won’t be able to afford it. I don’t know the specifics, but I do know that just because it’s out of the ground might not mean that it will be available to everyone.
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