Oil is a limited resource, so it may eventually run out, although not for many years to come.

At the rate of production in 2007, OPEC's oil reserves are sufficient to last for more than 80 years, while non-OPEC oil producers' reserves might last less than 20 years. The worldwide demand for oil is rising and OPEC is expected to be an increasingly important source of that oil.

If we manage our resources well, use oil efficiently and develop new fields, then our oil reserves should last for generations to come.