With the issue of oil becoming increasingly scarce and expensive, the scientists and economists are becoming worried. This worry is justified as when oil will become scarce, it will become expensive and this will create problems for oil dependent economies. Their economies will start crushing and may even result in a war. Hence, the problem is not just about human beings not being able to drive, use fuel for cooking or fly but it is a much more intense problem. Geopolitical factors will play a big part in reducing the production of oil. “The coming oil shocks won’t be so short lived. They represent the onset of a new permanent condition. Once the decline gets underway, production will drop by 3% per year, every year. War, terrorism, extreme weather and other ‘above ground’ geopolitical factors will likely push the effective decline rate past 10% per year, thus cutting the total supply by 50% in seven years.” (www.lifeafteroilcrash.net 11.11.2009). To answer the question, if the world will be able to cope if oil runs out, it is crucial to go through how the world is dependent on oil which is as follows:

i. All forms of modern technology ii. Transport iii. Agriculture iv. Food v. Water vi. Modern medicine vii. Plastic viii. Automobiles ix. Concrete x. Highways xi. Economies Alternatives to oil are actually derivatives of oil. Financially, economies will also cripple as they are dependent on fuel. Hence, the world will not able to cope when oil runs out as we are largely dependent on oil. In other words, when oil runs out, we will enter into a Dark Age.

BIBLIOGRAPHY: www.lifeafteroilcrash.net 11.11.2009