Wednesday, December 30, 2009

When will OPEC nations stop exporting oil?

I know that oil will run out by 2055, but in which year will OPEC nations stop selling oil to foreign countries and keep their oil for themselves?


When will OPEC nations stop exporting oil?
Actually oil will run out by 2038.I say this because every second of every day someone in some part of the world has/gets a license and has/buy a vehicle and re-fuel it constantly.It means that over 1billion vehicles are beign fueled a day.OPEC nations will stop exporting oil when foreign nations no longer need it(when enhancing technology,alternative energy fully come on stream).You see they are only exporting oil to those who request it,so if no one request it they have no reason to export it.In fact OPEC has had at least two meeting to cut its productions and exports because of current economic conditions which lead to a serious fall in request/demand.When will OPEC nations stop exporting oil?
We will definitely never run out of oil, and anything you have heard to the contrary is wrong. Because when oil finally does start to become truly scarce (certainly not the case now) it will become more and more and more expensive, and people will move to alternatives for every single use of oil instead, until finally no one is using oil for anything.





We already can replace every use of oil with something else. We don't do so yet because oil is still cheaper and more convenient.





But to your point, you can't eat oil. Most of the OPECkers can't make anything except oil, so they'll still sell it as long as they want to eat.
We don't know when oil will run out. We were told in the 1970's that we would be out by now. More oil is discovered, and sometimes oil that was previously unrecoverable is now recoverable based on new technology.
How do you know this ?


Someone told you ?


Don't believe everything you hear..


In short..


No one knows the exact answer to your question.

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