How long can the World Oil Reserves last?

Recently there is an escalation of the world oil price due to many contributing factors; one of which is the concern of the shortage of oil reserves.


The known world crude oil reserves in 1976 were estimated to be75, 000 million metric tons. The amount of oil consumed worldwide in 1976 was 2,800,000 thousand metric tons. Estimate the year the world oil supply will be depleted.How long can the World Oil Reserves last?
the world oil supply will never truly run out. They will just become so scarce and difficult to get at that we won't be able to use them. Fewer new oil fields are being discovered and output from established fields is decreasing (oil can't just be pumped faster from these fields because the geology and physics of the reservoirs prevents it). However our need for oil is not decreasing. This means that oil shortages will cause significant hardships, especially in the developed world starting very soon. This will get worse and worse unless we can find alternatives to oil. Developed countries must move away from oil before it becomes depleted if they wish to maintain high standards of living.How long can the World Oil Reserves last?
Even allowing for us to get at and use the currently hard to get at or use oil supplies, including all of the shale deposits and deep ocean drilling, and given the present rate of consumption (not even factoring in an almost certain increase), the world's oil will be permanently gone by 2120.


So, practically speaking, the 'oil' will hit the fan even sooner.
Until they run out.





Year...2121
wars are bound to happen before oil reserves run out.
my chemistry text book says in about 100 years