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Estimates in 2005 placed the amount of fossil fuels consumed to that point at approximately 1.1 trillion barrels of oil, meaning that nearly half of the total reserves had been used up. At a rate of 83 million barrels per year, this predicts that the remaining fuel will last until approximately 2036. Given that fossil fuel consumption has been increasing steadily over the last 50 years, these predictions could be overestimates. For example, in June 2008, the U.S. Energy Information Administration projected energy consumption to increase by 57 percent from 2004 to 2030.

The most credible predictions of fossil fuel expenditures and lifetime were made by the Shell Oil geophysicist Marion King Hubbert in 1957. The curve he developed, called Hubbert's curve, correctly predicted in 1956 the peak of oil production from 1965 to 1970. The true peak occurred in 1970. This added credibility to Hubbert's peak and to the prediction that there is less than 50 years of oil left at present consumption rates.

No matter what level of fossil fuel consumption exists, the fact of the matter is that fossil fuel reserves will eventually be depleted and cannot be replaced. It required nearly 300 million years to produce the reserves that humans are using today, and they are not being replaced. The dependence on fossil fuels is a political, economic, and environmental concern. Viable alternatives to fossil fuel consumption need to be developed in order to reduce society's dependence on coal, oil, and natural gas. Present alternatives include conservation, alternative energy sources, and more improved drilling and isolation techniques.

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