LogFAQs > #968575496

Watch "The End of Suburbia", it's a very interesting documentary about this topic.

Basically, oil is the most efficient energy efficient fuel we have by far. When the economy grows, we need more energy (oil). It wouldn't be feasible to replace oil by renewables if you want to keep having the same annual growth or just to keep the economy the size it is right now.

Basically, oil has been fueling the 'endless growth' model the world is in right now. Once oil runs out, the world would need to adapt to less energy efficient renewables and other energy sources, and of course consume less. Of course, that would mean the economy would shrink considerably, there would be unrest, resource wars and famine (as industrial agriculture relies on oil derivated petrochemicals)

tldr; oil is a finite energy credit card and one day we'll have to pay its bill