Oil is a crucial resource for the world. It is used to power our homes, businesses and vehicles. Without oil, our modern way of life would grind to a halt.
Running low on oil would have far-reaching consequences for the global economy. Higher oil prices would result in inflation and slower economic growth. This would hit consumers hard, as they would have to pay more for fuel and other goods that rely on oil.
There could also be political instability in countries that are heavily reliant on oil exports. This could lead to social unrest and even conflict.
In the long term, we need to find alternative sources of energy if we want to avoid the potentially catastrophic consequences of running out of oil.