160 years of oil are available at current rates of consumption.
In 2060, economic growth could mean much greater oil consumption. Reserves have fallen to just 40 years.
By the start of the next century, there are still over 20 years of reserves. Alternatives to oil will probably have been developed by this time.
Finding alternatives
This prediction looks at rising oil consumption due to economic growth. However, as oil prices rise, sustainable companies will look for better alternatives and develop new technologies.
Wind, solar and nuclear energy are already being used to reduce the need to burn fossil fuels to generate electricity.
Hydrogen fuel cells and electric-petrol cars are tackling the problem of vehicle emissions and also helping to reduce the need for oil.
Natural resources should be used as efficiently as possible. Economic sustainability often drives the development of new technologies and solutions to problems. |