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Whole arab nations of gulf area has around 100 years worth of recoverable oil left at between 15 and 20 million production barrel a day officially.... extracting oil in gulf is far economically viable than in Venezuela , canada rest of the world basically.Unless u can prove there is more Oil on earth it's hardly anything to doubt.
Oil is exhaustive there is a limit of how much we have of it on earth.
It would be very kind of u to post your side of the argument.
quality of oil is another factor. gulf oil is of better quality unlike one from Venezuela , canada etc.
there is actually enough oil on earth to last thousand of years.....whether it's recoverable with current technology at profitable price is the real issue. energy density issue with alternative sources is a real problem and is yet to be overcome at acceptable price.
Won't happen for next couple of 100 of years until robots start mining space...until than oil is here to stay.