New estimates of worldwide crude oil reserves total 1.651 trillion bbl
(1,651,000,000,000)
https://tinyurl.com/ycvg5odz
In 2010, global crude oil demand was 86.4 million barrels per day.
86,400,000,000x365=315360000000000000
Daily global crude oil demand 2006-2018 | Statistic
1,651,000,000,000/315360000000000000=19 years left
My math might be off but it looks like, at current rate of consumption all the known oil reserves will be used up in 19 years.
If the numbers are correct, we need to act now before it is too late !!
Any suggestions?
They have been saying this since since my dad was a kid. The action was to find more oil.
But now offshore and way out in nowhere stocks must be dwindling too so i guess deep sea will be the next oil boom.
Some notes
The price of oil will no doubt skyrocket (again).
Both france and england (perhaps others) wont be selling new hydrocarbon fuelled cars within 20 to 25 years.
When you start get spam email saying you must invest in deep sea oil then you'll know its getting tight.