When will the crude oil run out? The scientist has no doubts
Crude oil is a non-renewable resource, so it is possible that we will run out before we find a viable alternative for it. Yet scientists argue as to whether there is actually anything to fear.
Geologist and energy expert Christopher McFadden believes that we do not have to worry that we will ever run out of crude oil. In his opinion, it is difficult to imagine a situation in which we physically run out of raw material, but most importantly – we will not extract it longer than it is profitable.
“Physically it will not be possible to extract the last barrels of raw material from the most distant deposits if the costs of the entire project exceed the market prices of oil” – the researcher says. On the other hand, it gives very specific figures on when we should think about a viable alternative.
McFadden cites research which shows that with the current consumption of oil, extracting it may not be profitable in as little as 47 years. In the case of gas and coal, it is 53 and 114 years, respectively. In the face of these data, the researcher points out that the coming years may be crucial for the development of fossil fuel technology. It may also turn out that we will discover new oil deposits thanks to the development of current technology.
Interestingly, McFadden points out that the physical “running out” of resources does not necessarily mean the end of oil consumption. In his opinion, it will be possible to obtain fuel from plastic bags. Of course, the condition will be to develop an appropriate technology that will be inexpensive and beneficial for the environment.
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Klaudia Stawska, associate of Gadgetomania
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