It’s a fairly established and agreed-upon fact that our oil supplies are dwindling. Ever since man first drilled into the Earth and extracted the black gold, upon which all of our industrial advances and economic empires have been built, the amount of oil in the Earth’s crust has been slowly depleting. The question should not been “what happens if oil runs out?”, but “what happens when oil runs out?”
This, however, is something that the human race cannot agree on. Generous estimates state that we have decades more oil to mine, especially given the rise and rise of the practice of hydraulic fracturing (fracking) and other innovative methods of oil extraction. Meanwhile, other estimates claim that Britain will have all but exhausted its supplies within five years. Of course, vested interests of various parties make it difficult to know who to trust. One thing’s for sure: we need to have a plan B.
As yet, no clear successor to oil has been discovered. We currently derive a third of all of our energy from the black gold, which are substantial shoes to fill. Nuclear, hydrogen, biofuel, wind, wave, solar… all of these have their particular advantages – and their particular drawbacks. For more information on possible alternatives to oil in the future, see the article What is the Best Source of Energy for the Future?
What Would Happen if Oil Ran Out Tomorrow?
Clearly, we must try to find a way to wean ourselves off of our dependence on oil and replace it with more sustainable forms of energy production. But what if we were caught off-guard? What if oil ran out tomorrow, with no contingency plan in place? Luckily, even the harshest of estimates give us at least a few years to redirect our energy efforts, but here are some of the consequences of what could happen if oil ran out tomorrow.
- Oil and petrol prices would skyrocket as people clamoured to fill up their cars with the last few supplies of oil.
- Eventually, all private transport would cease. Emergency services would continue for a time, but finally falter too.
- All public transport, including planes, trains and buses, would come to a grinding halt.
- Industry is would be hit very hard; millions would lose their jobs.
- Food production would also suffer on an incredible scale and hundreds of millions would starve to death as a result.
- Crime would reach all-time highs as the police and other emergency services became non-existent.
- Disease and epidemics would explode as drugs to treat them became impossible to manufacture.
- The global economy would collapse.
- The Earth would suffer widespread deforestation as people chopped down any available firewood to avoid freezing in winter.
- Winter would also cause mass exodus of northern cities across the globe.
- Communication systems, including the internet, would fall into disrepair and disuse.
Such a bleak outlook on life after oil may seem extreme, but when you take into account the fact that we rely on the resource for almost every aspect of our daily life (food production, transport, electricity, lighting, heating, clothing, pharmaceuticals, healthcare, electronics), it seems likely. This nightmare scenario should only ensure that we don’t fall into the trap of leaving it too late. We must act, and act soon.
FAQs
Energy. A sudden loss of oil supplies would make it impossible to meet world energy needs. Countries have very varying stocks of natural gas which they could tap, and Johansen says such resources would be quickly depleted. “We're talking about weeks.”
What will happen if the world runs out of oil? ›
What will happen when oil runs out? Oil depletion could bring on the end of globalization considering it's one of the most traded commodities. Even if we can harvest every last drop of oil on Earth, supply and demand issues will make it unaffordable for most people.
What year will we run out of oil? ›
It's estimated that known oil-deposits will run out by 2052. Realistically, we may never run out of oil because, given the depth of the Earth's core, there will be new wells to discover.
How many years of oil is left in the world? ›
World Oil Reserves
The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).
What will happen after oil is gone? ›
Without oil, cars may become a relic of the past. Streets may turn into public community centers and green spaces filled with pedestrians. Bike use might increase as more people ride to school or work. The Earth will begin to heal from over a century of human-caused climate change.
Can the world live without oil? ›
Within a few weeks, a lack of oil — still the major fuel used for trucking and shipping goods worldwide — would impede deliveries of food and other essential goods. “Even if I could walk to the grocery store, there'd be no food there,” Gross explained.
Will we still be using oil in 2050? ›
Global energy demand to grow 47% by 2050, with oil still top source: US EIA. Global energy demand and energy-related carbon emissions will continue to rise through 2050, with oil remaining the largest energy source just ahead of surging renewables, the US Energy Information Administration said Oct.
What will replace oil in the future? ›
Solar, wind, and nuclear power are all alternatives to energy from fossil fuels. Oil and gas dominate the global market but other forms are gaining ground research and development into cleaner energies continue. Nuclear power is less expensive than other forms of "green" energy like hydropower or solar.
Is it possible to make oil? ›
Synthetic crude may also be created by upgrading bitumen (a tar like substance found in oil sands), or synthesizing liquid hydrocarbons from oil shale. There are a number of processes extracting shale oil (synthetic crude oil) from oil shale by pyrolysis, hydrogenation, or thermal dissolution.
What resources will run out by 2050? ›
Gold and other elements will run out by 2050
According to him, “in this scenario it is possible that the reserves of some of these elements will be exhausted in 2050 — such as gold and antimony — or in less than 100 years — in the case of molybdenum and zinc.”
That equates to somewhere in the region of 1.65 trillion barrels of proven oil reserves. Other sources up this estimate a bit, but most agree we have around 50 years left, give or take. For reference, a barrel of crude oil is about 42 gallons or about 159 liters.
Is there only 50 years of oil left? ›
No more oil by 2068
Enough oil to last another 50 years with an average global oil consumption of 95 million barrels per day.
What country has the most oil left? ›
- Venezuela. Venezuela possesses the greatest oil reserves in the world, estimated to be more than 300 billion barrels. ...
- Saudi Arabia. ...
- Iran. ...
- Canada. ...
- Iraq. ...
- United Arab Emirates. ...
- Kuwait. ...
- Russia.
Fortunately, renewable energy sources such as solar, wind, and hydroelectric power are practically infinite. On the other hand, the availability of fossil fuels, which still account for a significant portion of the world's electricity production, is limited, and their continued use poses environmental challenges.
How much oil is left undiscovered? ›
WASHINGTON—Excluding the United States, the world holds an estimated 565 billion barrels (bbo) of undiscovered, technically recoverable conventional oil; 5,606 trillion cubic feet (tcf) of undiscovered, technically recoverable conventional natural gas; and 167 billion barrels of undiscovered, technically recoverable ...
What would happen if the world completely ran out of oil and natural gas? ›
The global economy would likely collapse due to the halt of large-scale international trade and transportation systems, drastically changing lifestyles and diets and leading to a decrease in urban populations as people move closer to food sources.
Can the world replace oil? ›
We haven't found a good substitute for oil, in terms of its availability and fitness for purpose. Although the supply is finite, oil is plentiful and the technology to extract it continues to improve, making it ever-more economic to produce and use. The same is also largely true for natural gas.
How many years of oil does the US have? ›
Oil Reserves in the United States
The United States has proven reserves equivalent to 4.9 times its annual consumption. This means that, without imports, there would be about 5 years of oil left (at current consumption levels and excluding unproven reserves).
