Thursday, April 13, 2023

When will fossil fuesl be depleted.

 

Fossil fuels are used for more than energy. 

https://octopus.energy/blog/when-will-fossil-fuels-run-out/

 

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If we keep burning fossil fuels at our current rate, it is generally estimated that all our fossil fuels will be depleted by 2060. 

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If we don’t find any additional oil reserves, it’s estimated that our known oil deposits will be gone by 2052. In 2018, the demand for oil rose by 1.3% - which is almost double the average annual rate seen over the 10 years prior. With demand predominately driven by the transport sector, our oil reserves are running out faster than our other fossil fuels. In fact, if we don’t find any additional oil reserves, it’s estimated that our known oil deposits will be gone by 2052.

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Coal and natural gas are expected to last a little longer than oil. If we continue to use these fossil fuels at the current rate without finding additional reserves, it is expected that coal and natural gas will last until 2060. However, the consumption of natural gas continues to grow considerably. China alone accounts for over a third of this growth, and building and industry are responsible for 80% of the rise in global demand.

Despite seeing a decline in demand during 2015 and 2016, 2018 saw a 0.7% increase in global demand for coal – mainly due to a rise in coal-fired electricity generation in Asia. Renowned as the most polluting fossil fuel, efforts to reduce the usage of coal have been the most noticeable. In fact, in May 2019,the UK was powered without coal for nearly two weeks – the first time the fuel hasn’t been used for this long since the 19th century.

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