How long before the world uses up all of its oil supply?

Depends on how much pain you accept, for the gain. There is as much oil in the Bakke formation of Montana and North Dakota, as there is in Saudi Arabia. But you would destroy that part of the country to get it out.





No hold barred; we have maybe 800 years of oil reserves. Given the current political climate, we have already hit peak oil, and the price is going to skyrocket.How long before the world uses up all of its oil supply?
This seems to be in dispute between oil companies and scientists.





';BP's Statistical Review of World Energy, published yesterday, appears to show that the world still has enough ';proven'; reserves to provide 40 years of consumption at current rates. The assessment, based on officially reported figures, has once again pushed back the estimate of when the world will run dry.





However, scientists led by the London-based Oil Depletion Analysis Centre, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives.





According to ';peak oil'; theory our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.';How long before the world uses up all of its oil supply?
At this rate, scientists say we could exhaust it all by 2060, which is actually very fast. It takes an extreeeeeemely long time for the Earth to replenish its natural resources, the longest to replenish I think is coal and oil. It takes millions and millions of years.
in the 1950's ';they'; said about 50 years





in the 1970's ';they'; published in science text books about 50 years





in the 1980's, ';they'; projected doomsday in 30 years





etc, etc, etc,

ie hacks