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No More Overseas Travel? - Running out of oil? 1-Nov-2007 At 2:33:10 PM Zebedee

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On 1/11/2007 jackb wrote:
>If you add up the estimated amounts of crude oil reserves (that that can
>be extracted in an economical way) and devide it by the worlds current
>yearly consumption. Then you get a date at somewhere between 2040 and 2050.
>I think that is a foreseeable year.
>
>This doesnt take into account future discoveries of oil reserves. Unfortunately
>the last major discovery of an oil reserve was by a norweigen company.
>The amount they found would last for ten days at the current rate the world
>consumes oil. In the past decade or so there hasnt been a larger discovery.
>
>Even if more is found the estimated time our reserves would last doesnt
>take into account the growing demands for oil which would bring this date
>down into the 2030's.
>
>This info comes from "the Solar Economy" by Dr Hermann Scheer . He is
>responsible for pushing the German government in the direction of renewable
>energy.
I don't think it is very meaningful to estimate the time when we will run out of oil. The law of supply and demand will dictate an ever increasing cost and an ever decreasing demand such that we won't "run out" but rather will be unable to afford. This may mean that the pills and what not will still be made if they represent a sufficiently profitable use for oil.