There are 1.65 trillion barrels of proven oil reserves in the world as of 2016.

The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

This means that the oil is going to run out in our lifetime

Source/more reading: https://www.worldometers.info/oil/

Update: It is infact not true (or just partially true), because it only considers already known oil reserves that can be pumped out with current technology.

There is more oil that can potentially be used as technology and infrastructure advances, so the estimate of 50 years is wrong.

For the correction thanks to Cephalotrocity@biglemmowski.win (their original comment)

  • CaptPretentious@lemmy.world
    1·
    26 days ago

    This thread is filled with people who don’t grasp what a finite resource is. Saying “I remember hearing that x years ago”. Sure there’s probably more it there somewhere, but we don’t need to have to the finish on this. There are are kids who are going to grow up, people who aren’t born yet. Hell, at current rates, we might fuck up things with climate change. Which, even more reason to use less.

    Call me selfish, but I want my nieces and nephews, to be able to grow up into a prosperous world and not some weird dystopian hellscape.

    • SpaceNoodle@lemmy.world
      0·
      26 days ago

      I think our point is that we don’t know if this is a good prediction or not. They both keeps crying wolf.

      We’re not cheering for it, we’re just skeptical.

      • CaptPretentious@lemmy.world
        1·
        26 days ago

        Skeptical of what? That it’s finite? Or how much is left? Or that climate change is real?

        Because I’m definitely seeing people who think we have unlimited oil, that there’s always going to be more, and that climate change is not only a hoax but isn’t caused by humans at all. Some of those folks are in this thread, some of those folks I know in real life.

  • MNByChoice@midwest.social
    1·
    27 days ago

    “Peak Oil” they used to call it. Lots written about to collapse of everything after Peak Oil. Been predicted since at least 1970’s.

    Now we need to run out for our own good.

    • JaggedRobotPubes@lemmy.worldEnglish
      1·
      26 days ago

      Probably because of all the dipshits in this thread specifically, acting like we don’t need to stop extracting and using oil.