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barrycarter t1_j06foog wrote

https://www.worldometers.info/oil/ says we have 47 years left, but it only counts proven oil reserves and excludes the possibility we will discover more oil.

A Venn diagram on https://www.nasdaq.com/articles/how-much-oil-left-earth-2017-12-27 isn't particularly helpful, but points out there's almost certainly more oil that we can obtain economically and even more that we can obtain but will probably be too expensive to be worthwhile

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robotzor t1_j08so5n wrote

Oil glut theory says we will absolutely see demand for oil critically drop well before 47 years, globally. A lot of measurements go into getting a reasonable figure. It's difficult to predict on a macro level.

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electr0o84 t1_j08c8c2 wrote

>am on
>
>https://www.nasdaq.com/articles/how-much-oil-left-earth-2017-12-27
>
> isn't particularly helpful, but points out there's almost certainly more oil that we can obtain economically and even

Proven oil also only includes economic oil as proven oil is a way to help investors know the worth of the company. So if easy-to-drill oil becomes hard to get, prices go up and what was once an uneconomical oil is now economical to drill becoming proven or probable. With the current reservoirs of heavy oil in Canada Russia Venezuela and the rest of the world, I believe we have will have transitioned to other energies way before we run out. but if we did run out there is still an abundance of coal for energy or better yet nuclear.

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