The supply of oil is going to run out eventually. Everybody knows that, hence the reason electric vehicles (even electric motorcycles!) are popping off right now. But nobody knows exactly when that oil will run out. BP puts out a yearly estimate, and in 2014, the calculated guess is 53.3 from now. That means BP thinks we'll be out of supply in 2067, which is well within our lifetime.
According to BP there are 44.2 billion barrels of oil reserves just in the U.S., and that number will probably actually go up (as it did from last year, thanks to increased accessibility and knowledge of various American oil shales. Add that to the fact that there are more shale discoveries happening in the Rockies and in the Gulf Coast (both of which promise to provide major amounts of oil), and this might be a fairly low estimate.
Point: Take this number with a grain of salt and hope for an even better estimate next year.
[via USA Today]