When Will We Run Out of Oil?

There has been much crystal gazing when it comes to the question, “When will we run out of oil?” That’s because of our rabid dependence on the black liquid… According to the 2015 edition of the BP (NYSE: BP) Energy Outlook, energy demand will increase by close to 40% over the next 20 years. In its report, BP estimates the world has 53.3 years of oil left at current production rates. That’s the latest projection, but such forecasts have long been tried. For example, in 1914, the Bureau of Mines said U.S. oil reserves would be exhausted by 1924. It was wrong. “The truth is every expert who's predicted ‘the end of oil’ has been wrong in the past,” Money Morning Global Energy Strategist Dr. Kent Moors said. “But with global energy consumption at an all-time high, and much of the world's economy dependent on oil, the question needs to be asked.” Let’s take a look… Tags: how long till we run out of oil , how long until the world runs out of oil , how much oil is left , oil facts , what year will oil run out , when will we run out of fossil fuels , when will we run out of oil , when will we run out of oil and gas , will we ever run out of oil , will we run out of oil To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post When Will We Run Out of Oil? appeared first on Money Morning - We Make Investing Profitable .