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There are many debates on whether oil will be depleted in 50 or 150 years. However, some experts are predicting the contrary. They foretell that oil will last forever or at least for much longer than 150 to 200 years. The earth does today contain approximately 100 trillion gallons of crude oil. This is an extensive amount which will last for a long-time.

The oil era will end similarly to earlier periods that reached transitions. For instance, the Stone Age experienced a transition to the Bronze Age. The Stone Age did not terminate because there were no stones available. Innovation, technology and other factors lead to the demise of the Stone Age and the birth of the Bronze Age. However, even in the 21st century people are adopting a lifestyle alike to those of the Stone Age. The Oil Age will experience a parallel transition but towards an era of renewable energy.

Oil has been a dominant source of energy for the last 150 years. Nonetheless, oil has since the last 25 years been playing a lesser role in global energy. It was only in 1985 that oil reached its peak representation of global energy. It accounted for 50 percent of the world’s energy supply. Nowadays, it represents roughly 35 percent of global energy supplies.

The importance of oil in our global energy supply is likely to continue to fall. Similarly, to coal energy that had its peak in the 1920s and have since then experienced declining importance in world’s energy supply. The energy sources that are replacing oil are natural gas, nuclear and renewable energies. It is mostly likely that natural gas will soon see its peak in the years to come. However, thereafter, renewable energy will probably take account for world energy supply.

Richard Sears gives us a Complete and comprehensive overview how renewable energy will be enjoying a heightening importance in future global energy.

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Richard Sears: Planning for the end of oil

Source: TED