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What happens when the oil runs out?

Some say it will only be a few decades before world supplies of oil are so depleted that it will become too expensive to use for transportation or generating power.

What happens when the oil runs out?

Some say it will only be a few decades before world supplies of oil are so depleted that it will become too expensive to use for transportation or generating power. Is the world prepared for a day without oil? How central is cheap oil to the economy today? Can new technology replace the use of oil?

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