According to the CIA Factbook, the amount of oil left is based on the current technological and economic viability of extraction. This obviously implies that technologies and economies change, which means that the reduction of these oil reserves will put further weight on the following issues:
The increase in fracking, and its associated risks (including water damage & increased seismic activity) Increasing dependence on imported oil, which could cause consumer prices to rise The development of more clean energy sources New innovations like Tesla’s solar-panelled roofs The adoption of electric vehicles The distribution of electric vehicle charging stations (making owning one and driving one more feasible across the country)
There is much more coal than oil available, but scientists agree that if we use it all, it will push us into the critical zone for global warming.
Interactive graphic by RS Components.