Based on the latest federal estimates, if the U.S. stopped importing all crude oil and other petroleum products, how long would the nation's domestic petroleum resources last at the current consumption rate?
The U.S. has enough known petroleum resources to provide about 119 to 282 years of the nation's petroleum consumption at the 2018 consumption rate. This estimate excludes some resources located offshore and in certain other locations. In 1974, Stanford University professor and bestselling author Paul Ehrlich predicted that in the early 2000s the use of oil "to fuel industrial societies will be coming to an end." From 1974 to 2019, annual global production of crude oil rose by 48%.