Here are some thoughts and links on when the science/industry/government/economists think oil will run out. It clearly shows that no one agrees on anything and the science of estimating oil remains is clearly dubious, to this point. What interests me is that scientists that believe it is sooner rather then later, believe the oil industry is hiding it. My question is, why? From a purely business aspect the doom impending end to oil would sky rocket prices, and would send the oil industry scurrying to support alternative fuels knowing they need a replacement product to keep alive in this business. Meaning if they themselves thought oil was at an end, they would be talking about it, jumping up the price and investing that money heavily into a future product. But they’re not. So in my opinion they don’t seem to believe this even secretly. What are your thoughts?
Run out in 4 yrs time(London-based Oil Depletion Analysis Centre):
http://news.independent.co.uk/sci_tech/article2656034.ece
Same article explains BP statistical analysis says we have at least 40 yrs left.
Run out can happen as early as next year or possibly 25yrs from now.(Info here is two years old)
http://www.prospect-magazine.co.uk/article_details.php?id=7156
Here it’s said theoretically we’ll never run out of oil.
http://economics.about.com/cs/macroeconomics/a/run_out_of_oil.htm
42.6 years in this article if predicted by the Society of Petroleum Engineers(in 2005) and
the US Department of Energy estimates anywhere from 14 years to 105 years.
http://ask.yahoo.com/20050207.html
