How much of oil is left in world?
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).
Oil can last up to 50 years, natural gas up to 53 years, and coal up to 114 years. Yet, renewable energy is not popular enough, so emptying our reserves can speed up.
The world has proven reserves equivalent to 52.3 times its annual consumption. This means it has about 52 years of gas left (at current consumption levels and excluding unproven reserves).
So, will we ever run completely out of oil, to the point where there is none at all? In short no, it is physically and economically not possible. Crude oil will only continue to be extracted so long as it is profitable to do so.
According to the MAHB, the world's oil reserves will run out by 2052, natural gas by 2060 and coal by 2090. The U.S. Energy Information Association said in 2019 that the United States has enough natural gas to last 84 years.
- Malaysia -- 15 years remaining. Barrels per day: 727,200. ...
- Algeria -- 15 years remaining. Barrels per day: 2,180,000. ...
- Brazil -- 14 years remaining. Barrels per day: 2,422,000. ...
- Angola -- 12 years remaining. ...
- China -- 12 years remaining. ...
- Mexico -- 11 years remaining. ...
- Indonesia -- 10 years remaining. ...
- Argentina -- 9 years remaining.
A new discovery could let scientists artificially create crude oil in under an hour, accelerating a natural process that normally takes at least a few million years to complete.
If we keep burning fossil fuels at our current rate, it is generally estimated that all our fossil fuels will be depleted by 2060.
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).
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.
What happens when oil is removed from Earth?
When oil and gas is extracted, the voids fill with water, which is a less effective insulator. This means more heat from the Earth's interior can be conducted to the surface, causing the land and the ocean to warm. We looked at warming trends in oil and gas producing regions across the world.
Present U.S. demand for petroleum products is about 20 million barrels per day, so 800 billion barrels would last for more than 400 years if oil shale could be used to meet a quarter of that demand.
