Without reserves, the price should augment and with it renewable energy sources are the unique rational destination. This is singularly true for people that only look toward their own benefits and aren't capable of doing nor a single sacrifice for the habitat in which live. Taking account with future population and species is also another step in responsibility as diachronic world citizens.
Thinking for instance in transportation, some individuals argue about the high price of electric cars and their limited range with one charge. At the same time they could have houses with high price and other commodities [...]. Even enough price for buying several Tesla Motors Model S with great distance range with one charge, free electricity for the lifetime of the model and even luxury. However that would mean adjust in other areas where they prefer not to do so. A coherent discourse?
That's part of the context, although it's possible that the aforementioned aspect be the most relevant factor for changing to renewables, once their extreme power and benefits are already known. So, what are the estimations for oil reservoirs?
Fracking and other aggressive extraction methods that do cause severe environmental impact indicate that it's time for evidencing the decadency of interrelated companies. Trying to invest in those clean, renewable energies and why not profitable in some terms from their side and opportunities looks much more logical. Why do they still prefer signing with their names this lamentable period in history?
This estimation is particularly complex because it must rely on dubious statistics, and for sure new sources will be discovered in next decades giving more rum to a moribund with very bad health. Anyway, the global oil consumption is approximately 90 million barrels per day! Being an oil barrel more or less 160 liters / 42 US gallons. Even with entire subterranean seas forming during billions of years, the latest drop is coming quickly.
Doesn't seem that unit of measure (barrel) a euphemism in some way?
The increase rate is about 2% per year, nevertheless different countries are starting to feel the current high price of oil and demand less. That's the case of US and Europe.
Let's finally make a rough approximation of world reservoirs, trying to not considerate all those extremely important factors that could change it considerably. With this consumption rate, current published reservoirs and correct calculations:
World reservoirs by 2013: 1.6 trillion barrels.
World consumption rate by 2012: 90 billion barrels / day.
With 2% of annual grow rate: about 35 years of pollution and climate change.
Without: approximately 50 years.
The price is going to raise because some of these resources need more investment as the extraction is difficult, and are good news because it must interact with these estimations.
*The GNU Octave script for the calculation: crudeEst.m