When OIL will run out? (date) What will happen with Arabs?

Question: When OIL will run out!? (date) What will happen with Arabs!?
Best Answer - Chosen by Asker:

We will probably never "run out" of oil!. There are three or four trillion barrels of oil, or oil equivlent, known to exist in the world today, and there may be much more that hasn't been discovered, such as under the 70% of the Earth's surface covered with water!. Now, much of that oil is not recoverable at current prices or with current technology, but a lot of the oil we recover now was not recoverable using the technologies, and at the prices, of even ten years ago or so (remember, only nine years ago the price of oil had dropped to about $10 a barrel)!.

There are about 28 billion barrels of oil locked up in the oil sands of Canada, which until recently it was not economical to recover in great amounts!. Now, however, that production has gone up to the point that Canada is the largest single supplier of oil to the US (surprise!)!.

Similarly, Venezuela has billions of barrels of oil in the form of tar oil, which is much more difficult to extract and refine than the light, "sweet" crude of Saudi Arabia, for instance!. But again, with oil prices high and the right technology, this is a huge potential source!.

By far the largest known source of oil (actually "oil equivalent") is in the oil shales under the Rocky Mountains in North America, where there are an estimated two TRILLION barrels, more than in all the Middle East!. The problem, of course, is that this form of oil is very difficult, and expensive, to extract and refine!.

My point is that long before the last chunk of oil shale is mined from the Rockies -- long, long before -- the rising price of oil, and everything made from it, will drive human inventiveness to develop alternative, and hopefully more renewable, sources of energy!. After all, the current petroleum industry only really began as a 19th-Century reaction to the rise in the price of whale oil, which had been a key component of lighting and lubrication, until whales became too scarce!.

So, it would be absolutely impossible to fix a specific date, or even a year for when we would "run out" of oil!. Any website or prognosticator who suggest otherwise is engaging in fantasy!. And as for the Arabs, first, not all of the oil-producing countries are Arab, and not all Arab countries are oil producers!. Even for the ones who are, I'm sure they will be able to adapt to the changing energy picture!. When oil is no longer the necessity it is today certain Arab countries may not have the influence they once had, but they will probably still be important!.Www@QuestionHome@Com

They'll go back to selling dates and the rest of the world will have to find some other way to power their machines!.Www@QuestionHome@Com

No way is any timeframe that accurate!. There are too many variables - new supplies, new/increased demand, alternative energies!. The approximate projection is 40 to 50 years!.Www@QuestionHome@Com

Either we will have found another fuel source by that time; or there will be a war that most likely will destroy humanity altogether!. Or destroy it to the point that there is no need for oil, there is nowhere to go; its all been blown away!.

Or the last and most hopeful possibility, one of the religions is correct and God has come back to establish His Kingdom on Earth!. We will have no need for oil then!.!.!.Www@QuestionHome@Com

not much!.they own large chunks of most corporations!.!.!.!.!.!.been buying them with the oil money!.!.!.!.!.!.!.!.!.!.Www@QuestionHome@Com

I'm worried they won't plug the holes properly and lots of stuff will pour down there and then
WHOOM
the planet shkes and we're all done for!.
As a matter of fact it's likely that since the first oil was discovered the planet's been making more!.Www@QuestionHome@Com

the Us will switch to Ethanol within 5 years!.!.!.

The middle east will then go back to either third world countries, or if they are smart!.!.!.!. Tourist Traps!.!.!.!.Www@QuestionHome@Com

The Arabs like many other oil producing countries buy properties, businesses etc!. all over the world!. When in 40-100 years the oil will run out, they will have control of a huge part of the world's wealth, and nothing to worry about!. I do believe that in 10-20 years other ways of exploiting energy will be found or developed like sun energy, water energy etc!. and humanity will not depend anymore on oil when it runs out!.Www@QuestionHome@Com