How much oil actually is left?

[Dorian Mode]

However,
There is currently a well shortage.

1 out of 20 wells drilled actually produce oil.
But to get there you need leases, permits, and investments. (Wells aren't drilled for free)
Then the amount of oil a well produces can vary drastically. It can be a single barrel a week or month, 5 barrels a week to much more.

Out of the hundreds of millions of barrels used every day....we need to drill a LOT of wells to keep up with supply.

View attachment 1236791

It all comes down to economic feasibility, right? I'm not worried about running out of oil, sooner or later we will tap into better and more economic energy sources. The real shortage is getting enough bright minds to work on better alternatives.

 

[JohnDB]

It all comes down to economic feasibility, right? I'm not worried about running out of oil, sooner or later we will tap into better and more economic energy sources. The real shortage is getting enough bright minds to work on better alternatives.

Currently petroleum alternatives cost multiple times what petroleum products do. And still are delivered to market by use of petroleum products.

As from a previous chart I posted....
petroleum demand rises each year. Peak oil usage is always 50 years into the future. It required time to become dependent upon petroleum and it will require decades to stop relying upon it. Even your commercial EVs still require petroleum products. Wires, transformers, and capacitors need plastic for insulation. Every bit of electricity generated still relies upon petroleum products to be transmitted. Because the former insulation, asbestos, was deemed to cause cancer. (It did) Today there are still some devices (fuses) that use asbestos for insulation but it's the non harmful kind. But it has the potential to become harmful.
The disposable Styrofoam trays and packaging used for takeout food and drinks can be replaced by organic products (usually made of sugar cane pulp) however those cost 3-5 times as much as Styrofoam containers. If you owned the small business which are you going to purchase?

When I owned a bakery...I faced similar questions constantly as packaging costs were roughly 20% .....packaging costing more than the groceries inside is not going to work out financially. Plastic bags for English muffins are cheaper than paper. For sandwich bread loaves plastic bags are a must. There never was an alternative to petroleum products that made sense financially. Not for the value conscious customer. People are ALWAYS self focused...."wanting more" is a concept as old as Adam and Eve. Nevermind the consequences. Retirees still play the lottery and Bingo. WHY?

Protests are not going to stop anything.
Gluing yourself down to pavement won't do anything except make defiant enemies of a crazy group.

People are content so long as there exists sufficient food and circuses in an ever slowly increasing supply.
Removing these things by taxes or government intervention will result in an overthrow of the Government.