Future of Petroleum Production

The future of petroleum as a fuel remains somewhat controversial. USA Today news reported in 2004 that there were 40 years of petroleum left in the ground. Some argue that because the total amount of petroleum is finite, the dire predictions of the 1970s have merely been postponed. Others claim that technology will continue to allow for the production of cheap hydrocarbons and that the earth has vast sources of unconventional petroleum reserves in the form of tar sands, bitumen fields and oil shale that will allow for petroleum use to continue in the future, with both the Canadian tar sands and United States shale oil deposits representing potential reserves matching existing liquid petroleum deposits worldwide.