What are some facts you know about the earths oil supply?

What do you know?


:)What are some facts you know about the earths oil supply?
1) In the 90's we thought that we would be out of oil by the year 2000, and yet here we are.





2) There are plenty of ways of getting oil out of the ground, such as removing it from oil sands in Canada, on land pumping, or offshore pumping.





3)We have barely even begun to tap the oil in the gulf, but it is too costly to do too much exploration at one time.





hope this helps.What are some facts you know about the earths oil supply?
Oil is a finite resource - we are using it up and it will be gone someday





A geologist name M. King Hubbard predicted when the production of oil in the US would begin to decline (because it was becoming more scarce) and he was correct exactly to the year.





Most of the readily available oil is in Saudi Arabia, and they have not discovered any new fields in recent years. It is estimated that their production will begin to decline in the near future.





Production of oil from oil shale and tar sands is expensive and creates a lot of environmentally destructive waste.





The demand for oil has increased dramatically in recent years because of higher usage in China and India and other developing countries.
I know that the oil supply will be used in around 40-50 years and the Arab countries got the most of it . :)