We’re running out of gas

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It’s quite a simple theory. The glass starts full and ends empty, and the faster you drink it the quicker it’s gone,” says Colin Campbell, the head of the London-based Oil Depletion Analysis Centre, talking about how much longer our world’s petroleum reserves are going to last. While driving your car or two-wheeler, or sitting in a bus, trudging along with the traffic, has the thought ever crossed your mind, “How many years from now will petrol or diesel last? Will I still be able to drive this car, say, twenty years from today?” The answer is, shockingly, probably not! Today, the world burns more than 85 million barrels of oil—this is projected to increase to 113 million barrels of oil by 2030. Estimates say there are only about 1238 billion barrels of oil left to be pumped out of the Earth. If we look back at oil discovery over the years, we notice that exploration peaked in 1966. And so, even if technology for finding oil has improved, less oil has been discovered every passing year. It shows up the painfully obvious—most of our oil reserves have already been extracted. Production and demand, on the other hand, have been consistently on the increase. Oil production in the US peaked in 1970. Global oil production is expected to peak any time now. For those who have not comprehended the situation yet: oil is running out. And fast. It will be completely drained in just a few years if we don’t do anything about it.

By | 2014-08-30T06:30:37+00:00 August 30th, 2014|Power|0 Comments

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