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"Let’s do a thought experiment. Say the world’s proven oil reserves are 400 million barrels. And say world oil consumption is 20 million barrels a year, growing
by jayalpha 7y ago
"Let’s do a thought experiment. Say the world’s proven oil reserves are 400 million barrels. And say world oil consumption is 20 million barrels a year, growing at 5 percent annually.
Question: when will earth’s oil reserves be 100 percent depleted?
OK, timeout. Before you grab a pencil and break out the scratch paper, I should warn you — the answer isn’t 14.2 years. Or 20.4 years. Or any other number of years.
It’s never."
https://medium.com/@andrew.chamberlain/why-well-never-run-out-of-oil-but-will-stop-using-it-anyway-e4c21f208e12 https://medium.com/@andrew.chamberlain/why-well-never-run-ou...