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i think it will last for 10-12 years!!!!!!!!!!!!!!
I think it will last a bit longer than that!
Even so, our oil won't last for ever. At the moment, the world uses about 26,000,000,000 barrels every year. At this rate, there should be enough oil for at least another 40 years.
the oil supplies in the ground won't last for ever. The oil fields already discovered hold over 1 million million barrels of oil (1,000,000,000,000).
someone needs to check stupid peoples answer like above the correct answer is 70 years. it may go longer if the US does not mess with Middle East that is where we get ALL are oil from.
For US natural gas, between 10 and 75 years. It depends on whether the calculation is based on proved reserves or technically recoverable resources.
Using 2006 EIA supply and production values for natural gas:
In proved reserves, we had 211 Tcf (trillion cubic feet) [1] - about a 10 year supply.
In technically recoverable resources, we had 1,533 Tcf [2] - about a 75 year supply.
Historically, calculations based on proved reserves are a terribly unreliable predictor of how long gas reserves will last. For example, in 1996 we had 166 Tcf of dry natural gas in proved reserves. Between 1996 and 2006 we extracted 190 Tcf of gas so we actually extracted 15% more gas than we had in reserves (based on 1996 numbers). Yet by the end of 2006, we had 25% more gas in reserves (211 Tcf) than we had in 1996. [1]
Each year, for at least the past 30 years, EIA inventory reports show that our supply of proved reserves will last 8-13 years [3]. This isn't a knock on EIA, proved reserves is a valuable number when used as a near-term indicator of ready reserves but it represents only about 10-15% of our total natural gas resources.
[1] http://www.eia.doe.gov/pub/oil_gas/natural_gas/data_publications/crude_oil_natural_gas_reserves/historical/2006/pdf/table01.pdf
[2] http://www.eia.doe.gov/emeu/aer/txt/ptb0401.html
[3] http://www.eia.doe.gov/pub/oil_gas/natural_gas/data_publications/crude_oil_natural_gas_reserves/historical/2006/pdf/appd.pdf
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