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The thing with oil reserves is that the deeper you go, the harder and more expensive it is to get the oil out. That means to get to the last drops of oil in a reserve, you would need to spend an extraordinary amount of money, which would not be worth it.
Supply and demand has a part in it as well. As oil become scarcer, the price will go up. When the price of oil is equal to the price of alternative fuels, we will switch to alternative fuels.
So yes, I truly think there's no end to oil, only its usage.
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