October 22,2015 was celebrated as World Energy Day but many many of us don’t bother about that. Actually the energy we depend upon is getting exhausted day by day. This holiday was originated in 2012 World energy forum intended to address the future of oil and its conservation. The oil usage is supposed to occurred in 1970’s and usage in today’s is very much high, most of don’t think how much oil is left for our use?
Unlike modern source of energy, Crude oil is non-renewable resource,which means once we used all, it’s gone. Almost all world oil is located in vast reservoirs, centralized in number of countries and all oil can actually be extracted is referred to proven or unproven. Proven reserves means that there is a 90% chance of oil being extracted. Unproven means that we believe it is there but for number of reasons cannot be extracted. In 2014, Organization of Petroleum Exporting countries reports that there is roughly 1.5 trillion barrels of proven oil reserves is left. For comparison, it is estimated that 1 trillion barrels are used since commercial oil drilling began. Its been a long time and usage of oil are at very rate. And nowadays world consume around 34 billion barrels per year and from that china consume around 30 billion barrels itself. 80% of oil comes from 12 countries with roughly two third from middle east. Venezuela in South America holds about 20% of the world oil with around 300 billion barrels and Saudi Arabia with 265 billion barrels. But how long the oil holds with us that’s shaky subject. A report said it will take about 53 years before it runs out.
World has to adopt the other renewable resources to large extent like wind energy, hydro energy etc. Insanity is good to some extent but to that extent which can make the world still will be dangerous.