The world is running out of oil and it's running out fast. Out of the estimated 2 trillion barrels of oil reserves we started off with, 900 billion have now been used. That leaves us with about 40 years of oil supplies . Even pumping the 1.1 trillion barrels of oil that remain becomes harder and harder as time goes by. As the wells are emptied, they lose pressure, slowing the flow of crude. This means we 're likely to reach a peak in production well before we run out of oil altogether. Once demand outstrips supply, we can expect oil prices to skyrocket, dragging the global economy into a recession of apocalyptic proportions. To discuss this impending crisis, we are joined by a trio of experts from three continents.
