0
The U.S Energy Information Administration states there are about 1.3 trillion barrels of oil left in the world right now.
According to OPEC, over the next 21 years, the world will average about 36 billion barrels of oil each year.
Thus, barring any new major oil discoveries, the world's oil supply will be effectively gone in 36 years.
A:BP's Statistical Review of World Energy, appears to show that the world still has enough "proven" reserves to provide 40 years of consumption at current rates.Nobody really knows because the amount of oil reserves fluctuates with the price. As the price of oil goes up, it becomes affordable to extract the more difficult to obtain oil. Advances in technology also increase our ability to extract hard-to-reach oil. Thus, our reserves continually fluctuate.
Wiki User
∙ 11y ago
Wiki User
∙ 13y agoabout 60 years because the oil in the ground is been used up so fast. The United States has roughly 400 years of oil left in the Green Valley and Baikan reserves. This oil is not refined as cheaply as sweet crude.
Wiki User
∙ 13y agoIn about 30 years time people think but it is actually a question of how much oil we will use in the next few years.
Wiki User
∙ 13y agomost likily 30 years
Add your answer:
Earn +20 pts
When was Gulf Oil created?
Gulf Oil was created in 1901.
When did the oil spill in the gulf happen?
This may refer to:Any of the Gulf of Mexico Oil spillsThe Gulf War oil spill.Any of the Persian Gulf oil spills.See related questions.
When was Gulf Run created?
Gulf Run was created in 2004.
When was Gulf Oil LP created?
Gulf Oil LP was created in 1993.
Where did the gulf oil spill occur?
The BP oil spill occurred in the Gulf of Mexico. The Gulf War oil spill occurred in the Persian Gulf in Kuwait.
Who is responsible for the gulf oil spill?
Which gulf and which oil spill? See related questions.
Is the gulf of Oman important to oil trade?
The Gulf of Oman is vital to the oil trade.
Who are the people who are responsible for the oil spill in the gulf?
BP is responsible for the oil spill in the gulf
Where is the oil leak on the Gulf of Mexico coming from?
The oil company BP had an oil spill on its rig in the gulf.
What oil tanker did the oil spill in the gulf of Mexico?
The Mega Borg tanker spilled oil into the Gulf of Mexico in 1990.
What is an oil nation on the Persian gulf?
Kuwait is an "oil nation on the Persian Gulf"Kuwait is one.
Is there oil in the Gulf of Mexico?
Of course. Haven't you heard about the BP oil spill in the Gulf of Mexico?
