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The total amount of oil in the world is estimated at 4 trillion barrels. Of this total, experts estimate that approximately half is recoverable. These same experts estimate that 465 billion barrels of oil have already been consumed. The current rate of consumption around the world is 22 billion barrels per year. At this rate, the world has about 45 years left to enjoy the luxuries that oil provides. Once world oil reserves becomes depleted, companies may look into the estimated 800 billion barrels which remain to be discovered, or are not recoverable with our current technology (Environmental Science, A Global Concern). Some prospective drilling sites where oil companies are researching are located in Alaska and the Caspian Basin. A large potential for liquid hydrocarbon resources, including shale oil and tar sands, exist mainly throughout North America.
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Global oil discovery peaked in the 1960s and oil production is likely to peak as soon as 2007. With a world economy based on fossil fuel, the economic and social consequences will be dire. The prices will rise with the every passing day, so there is a need of new oil/energy resources or to cut short our enery consumption, changing our life style.
You can see an interesting article there if you're interested with world energy future, that is your future also.
http://www.capetimes.co.za/index.php?fArticleId=2505413
http://www.iol.co.za/index.php?sf=28...28182&set_id=6