It is my belief that oil is being constantly created by natural processes in the earth.
So ... in a way, one could say we will never run out of oil.
However. I do believe oil will become harder and more expensive to extract over time. Unless a system similar to crop rotation is employed.
>>However. I do believe oil will become harder and more expensive to extract over time. Unless a system similar to crop rotation is employed.<<
They seem to have that fracking thing down pretty well.
Yes and a few years ago I read a science report affirming the same. Can't remember the report or where I got it but it seem that the hot center of the earth somehow is like a furnace and decomposition will continue on earth for an unlimited time. I might have misunderstood it since science is not my bag.
There is an assumption in any attempt to quantify the amount of oil that we can get to.
That assumption includes constant technology and current prices.
Yes, there is a limit as to how much oil can/will be extracted at current prices and technology.
But it’s impossible to determine how much total oil is available with changing technologies and higher profit motives.