The U.S Energy Information Administration states there are about 1.3 trillion barrels of oil left in the world right now.
According to OPEC, over the next 21 years, the world will average about 36 billion barrels of oil each year.
Thus, barring any new major oil discoveries, the world's oil supply will be effectively gone in 36 years.
A:BP's Statistical Review of World Energy, appears to show that the world still has enough "proven" reserves to provide 40 years of consumption at current rates.Nobody really knows because the amount of oil reserves fluctuates with the price. As the price of oil goes up, it becomes affordable to extract the more difficult to obtain oil. Advances in technology also increase our ability to extract hard-to-reach oil. Thus, our reserves continually fluctuate.
about 60 years because the oil in the ground is been used up so fast. The United States has roughly 400 years of oil left in the Green Valley and Baikan reserves. This oil is not refined as cheaply as sweet crude.
In about 30 years time people think but it is actually a question of how much oil we will use in the next few years.
most likily 30 years
Gulf Oil was created in 1901.
This may refer to:Any of the Gulf of Mexico Oil spillsThe Gulf War oil spill.Any of the Persian Gulf oil spills.See related questions.
Gulf Run was created in 2004.
Gulf Oil LP was created in 1993.
The BP oil spill occurred in the Gulf of Mexico. The Gulf War oil spill occurred in the Persian Gulf in Kuwait.
Which gulf and which oil spill? See related questions.
The Gulf of Oman is vital to the oil trade.
BP is responsible for the oil spill in the gulf
The oil company BP had an oil spill on its rig in the gulf.
The Mega Borg tanker spilled oil into the Gulf of Mexico in 1990.
Kuwait is an "oil nation on the Persian Gulf"Kuwait is one.
Of course. Haven't you heard about the BP oil spill in the Gulf of Mexico?