How Many Years Will Existing Liquid Fuel Last?
The world has been powered by liquid fuels—mainly oil and its derivatives—for over a century. From fueling vehicles to generating electricity and heating homes, these fuels are the backbone of modern society. However, with increasing demand and the finite nature of fossil fuels, a pressing question arises: How many years of liquid fuel supply do we have left? Understanding Liquid Fuel Reserves Liquid fuels primarily come from crude oil, which is extracted from the Earth's crust and refined into products like gasoline, diesel, and jet fuel. Global reserves of oil are classified into proven reserves , which are economically recoverable under current conditions, and unproven reserves , which may become accessible with technological advancements or higher prices. Current Estimates of Oil Reserves As of recent reports, global proven oil reserves stand at approximately 1.7 trillion barrels . This figure varies based on new discoveries, improved extraction technologies, and fluctuating ...