When will we exhaust the worlds oil supply ?

Petroleum (oil) provides some of the best fossil fuels, specifically, gasoline and diesel. Modern techniques for extracting oil from the Earth are relatively efficient and petroleum products are easy to transport, so the cost of such fuels are relatively inexpensive. Further, the amount of energy that can be extracted through the burning of small volumes of diesel and gasoline is very large, making engines using such fuels very attractive for many, many purposes, especially for transportation systems.





In the end, however, the burning of petroleum products produces CO2, other carbon compounds (including particulate carbon in the case of diesel), and other chemical compounds from trace elements and additives in the fuels.





Compared to the amount of coal in the world, all indications are that there is much less petroleum. For several decades, there have been ';predictions'; that humanity would soon exhaust the world's supply of oil. All these have proved ';premature';.





Just how much petroleum there is in the Earth System is not known. As the energy companies explore Earth's crust, especially the crust of the continental shelves, more and more oil is being discovered. And the technology to extract oil from the crust continues to increase in range (deeper) and efficiency (more oil extracted from a given reservoir).





For example, 30 years ago, it was state-of-the-art to drill just off shore, staying close to the land. Today, wells are being drilled 100s of kilometers out from shore, in depths approaching 10,000 ft. In a few years, it will be possible to drill wells at 20-30,000 feet below the ocean surface, so that all the continental shelf will be accessible.





However, it is reasonable to expect that the cost of oil will rise with time, reflecting the increased costs of extracting oil from ever deeper reservoirs. Somewhere in the future (2050? 2100?) petroleum will become too expensive for all but specialty uses.When will we exhaust the worlds oil supply ?
My guess is never. There are so many deposits we do not even know about yet, but it is expensive to drill in hopes that there will be oil somewhere. And we may all die, before we use all the oil, or what would be better is if we developed more alternative technologies and relied on them more.When will we exhaust the worlds oil supply ?
At our current rate of consumption it is predicted in 20 years.
sooner or later. probably sooner.
According to MIT if burn All of the oil and coal the planet will over heat.
At current consumption rate about 40 years but with China and Europe increasing its oil need it might be sooner.
until all middle east countries conquered
I say 10-20 years max
Within the next 35 to 40 years
never, because the Demicrats always vote to stop drilling everywhere. so that leaves all the oil in the ground.so their will always be oil her. their is oil off the 2 coasts ,texas ,ok ,nm gulf. pa,you will never have to get worried about running out of oil