this post was submitted on 10 Dec 2025
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US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.

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[–] Fredselfish@lemmy.world 5 points 6 days ago (4 children)

How much oil do we truly have left in the world. When I was a kid I heard we would run out of in 2000s. Don't remember if it was 2030 or 50 could been longer. But just how much?

[–] frisbird@lemmy.ml 7 points 6 days ago

You heard about peak oil, not oil exhaustion. We hit peak extraction around 2008ish but added new extraction technologies like shale oil and since then we have no expectations of hitting a peak extraction any time soon.

Now the expectation is that consumption will hit a peak and collapse oil prices sooner than extraction will hit its peak. This is expected due to electricit cars and green energy production reaching a sufficient volume to make oil less in demand.

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