When Will Oil Start Running Out? Experts Argue: Now or 30 Years Away

[NNN0LHI]

http://ap.tbo.com/ap/breaking/MGBL6XKCNDE.html

VIENNA, Austria (AP) - Fact: World oil production will peak someday, and supplies will start running out. But when will the tipping point come - in years, decades, or a couple of months from now?

The oil industry says crude will be plentiful for at least another generation. But some experts argue reserves are overstated, oil technologies are limited and demand, sharply boosted by the needs of China and India, could soon outpace supply.

European Union finance ministers are asking the Organization of Petroleum Exporting Countries to ramp up production when the Saudi-led cartel meets Sept. 19 in Vienna - despite the failure of similar boosts over the past year and a half.

Skeptics say that won't work.

[jody]

1. It's already running out. The real question is when will it begin to

destroy economies if we don't develop alternative energy sources. Perhaps a decade but three decades at most given the rapid growth in demand from China and India.

[enigami]

2. LOL, not before I can't afford it anymore anyway n/t