It is estimated that world's supply of oil will run out within about 50 years. What consequences may it have on our society?

1) Oil is the main source of energy for transportation, heating and power generation. Its depletion will lead to an energy crisis, shortages and rising prices that will affect industries and households around the world.

2) The global economy is heavily dependent on oil, and its scarcity disrupts supply chains, increases production costs, and slows economic growth. Industries dependent on oil, such as transport, manufacturing and agriculture, will be particularly vulnerable.

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