According to data from a new eye-opening infographic, the current consumption rate of the world’s supply of oil reserves--86,952 barrels per day--means oil fields will be dried up in 40 years. The scenario for coal is slightly better: it will take a mere 130 years for us to pillage those supplies.
The math just does not add up. Demand for fossil fuels is increasing, while the supply is rapidly declining. Anyone who has taken Econ 101 knows that this means prices for fuel will continue to rise. Some will be able to pay the new price premiums, but many more will be left out in the cold--literally.
There is hope. By 2050, 80 percent of the world’s energy supply is expected to come from alternative sources. More and more countries are investing in alternative energy options with China, often considered one of the world’s worst abusers of natural resources, leading the way. Philanthropists, like Bill Gates, are investing millions into clean energy initiatives.
Progress is coming, but perhaps not quickly enough. As Secretary of State John Kerry noted:
“The worst consequences of the climate crisis will confront people who are the least able to be able to cope with them.”