: Just what do you think will happen on that day, not too far in the future, when the oil runs out? What will become of the infrastructure that was geared toward dependency on the oil that ran out? How will the capital-poor nations fare? Will it be like this?Keep in mind I do not claim to be an expert on most subjects already discussed here, but I have expressed my opinions.
Question 1: I can assume that the major oil companies will have diversifed prior to that, with alternative energy sources in "stand-by" or in a rapid growth mode. Life will be drastically different, due in part to the expected high price of crude oil making personal/casual use of internal combustion engines too expensive. I think the effect will be felt long before the wells run dry.
Question 2: The infrastructure will, of course, be devastated. The business sectors geared to oil and oil products will die off (obviously), and some may be able to convert to alternative sources, such as alcohol from grains and synthetic lubricants. I think the most dangerous sector affected will be agriculture. No fuel, not enough food.
Question 3: Cash poor countries will feel the effect first, not being able to afford the fuels. However, the effect may be mitigated due to the comparatively low level of dependence those countries have on fossil fuels. Societies with a more agrarian structure will fare better than industrialized nations.
Question 4: The graph in the link seems plausible, but I wonder what the author attributes the sudden decline in population to; low birth rates, decreased mortality, or violence (or all three).
I don't think life will be horrible, though it will be vastly different. The human race did just fine without petroleum for a long time. I think we are smart enough to find solutions and alternatives to fossil fuels. The major energy companies must have already planned for this. I can imagine Exxon being a world leader in the production and sales of solar energy systems, Shell being the leader in wind energy, and somebody else leading in geothermal systems.
Its a scary thought, but not as scary as feeling the need to build a fallout shelter in your back yard.
