The world will not run out of oil during the lifetime of anyone living currently. Published oil reserves are based on SEC definitions for prospectus and annual reports which basically means is actually in production or will be in production within the next 2 years. It has nothing to do with what is actually in the ground and can be extracted either with current technology, price of oil that makes it possible or future technology. http://www.instituteforenergyresearc...reserves-myth/
is basically accurate.