Do you think the Rumors are true that in 10 year's all the World's Oil Reserve's will be tapped?

There is many crude in the world and the proven reserve are risen year a year. The high price of crude oil is not caused by the scarcity of crude oil else by the reduction of capacity of refinement in the world. The problem will be solved when many refineries will be builded.





It is really difficult to see a high level of depreciation in refineries and disincentives to build more refineries these are the consequences of Reaganomics and 15 years with a ridiculous price in crude (down USD 15).





Here an interesting document:





http://www.opec.org/library/World%20Oil%鈥?/a>Do you think the Rumors are true that in 10 year's all the World's Oil Reserve's will be tapped?
well personally I wouldn't be too surprised. oil is a primary source of energy all over the world, it's going to run out sometime. the more technology grows and other developments take place, the more the demand for it increases. we have to find a way to curb our dependency on oil and find alternative sources. besides, it would be healthier for the environment, which until this point we have not been taking care of it as we should. i may sound like an environmental nut but hey, that is just a fact that needs attention. we can't rely on oil always. i do not have statistics to undoubtedly say yes to your question, but given what I said, do the math, soon we might run out of the 'precious commodity'.Do you think the Rumors are true that in 10 year's all the World's Oil Reserve's will be tapped?
maybe not in 10 years. i have friends working on rigs, they are saying at the current rate of demand there will be enough oil to supply even for the 50years.





these does not include other countries that have not discovered they have oil under them.





you should also factor in that in the next coming years that there will be a decline in oil requirement. Alternative fuel are on the research facilities top priority. renewable energy sources are being tapped and more are jumping in the wagon.
no... but I wouldn't worry if it were... we will just come up with new innovations that will not need oil...
Running out of a finite resource is a matter of time. When we know that we are consuming at least as much as we produce and that the consumption is growing rapidly, we need not be rocket scientists to know not only that the reserves will be tapped but also that the cost of oil will grow fast as demand increasingly outstrips supply.





Ten years is an estimate; it may not be correct (what if it is 30?), but if it is anywhere near correct, the cost of energy will become prohibitive very soon. We need to work as hard and fast as we can at conservation of oil and at perfection of the technologies of exploiting alternative sources of fuel.
Nope