So facts as well as statistics have shown that calculating the number of barrels of oil we have to the number of oil barrels we consume the world will eventually run out of oil. No more oil or gas for the cars? Could you imagine yourself going to the gas station and the guy in the gas station telling you "Sorry Sr. no more".
Wanna know the truth?
This fact was already been said in 1970 and here we are consuming even more than what we were consuming and more oil has been found. So is oil infinite? It is really confusing since first we thought we were going to run out of oil but it never happened. Since the true fact is: "We will never run out of oil". Not because is infinite because it will eventually be so hard to find the oil that we will stop looking as if you are looking for a pastiche in a huge pool of shells.
Something we can conclude from this is that as we know economics is a social science. It has been said that it is the mot useful social science in manners of prosperity. The one that relies in the correlation and interdependence of economists and the community. The oil example show how economics relates the community behavior. Last but not least our professor close the class stating that Economics is the study of scarcity, furthermore that man will act with a purpose....
Rizzo
-Daniel "Danny Boy" Gaona
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