The oil is running out

Oil is the driving force of the global economy. Logistics, transport, manufacturing. You'd be hard pressed to find an industry that isn't entirely dependent on oil or oil products, from gasoline to plastics.

But it is a finite resource.

BP's statistical review of world energy (2017) listed global proven oil reserves - oil that could be accessed given current technological and geopolitical conditions - at 1706 billion barrels in 2016. That sounds like a lot, and it is, but with global consumption for 2016 at over 95 million barrels per day, current predictions are for consumption to increase into the 2030s and proven reserves to run dry in just the 2060s.

The oil is running out, but it can't come soon enough...