When Will We Run Out Of Oil: What To Do About It

Is There a Cheaper Solution to Our Oil Crisis?

There’s a lot of discussion lately as to whether or not we’ll be running out of oil soon. Should we be concerned? 

Learn here what you can do about the situation, and the steps you can take to maneuver these turbulent times. 

Where Crude Oil All Began

But first, let’s take a brief look at the history of crude oil. Not long ago in Baku, Azerbaijan was the first oil refinery established in 1837.

Fast forward 185 years to today and now we’re all worked up about whether or not we’ll have enough oil to last us the next 50 years.

To put that into perspective, it took China 2,100 years to completely finish building the Great Wall.

How is that related? We are burning through and using resources quicker than it would take to build something like the Great Wall. And let’s not forget that it takes millions of years to produce the fossil fuel we use for our gasoline.

Surely we can reverse this whole mess we’re in, right?

assessing the current situation

Electric vehicles are on the rise and will likely become a solid alternative. But will they able to completely replace gasoline vehicles?

How about oil changes? Will we all have to shift to expensive synthetic oil changes from now on?

Things look dicey with gas prices back on the rise.

1) Newfoundland is the highest it’s ever been when compared to Canada’s national average for gasoline prices.

They’re sitting at 153.5 cents/litre.

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when will we run out of oil 3

 

as of August 03, 2021

2) California is the highest it’s ever been when compared to USA’s national average for gasoline prices.

They’re sitting at $4.38/gallon.

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california gas price spikes

as of August 03, 2021

Will the World Run Out of Oil?

At this point in time no one knows how long this trend of inflation will last. And we don’t know whether or not we’ll reach depleted levels of oil soon.

In 1914, the U.S. Bureau of Mines claimed that we would run out of oil by 1924.

In 1950, the U.S. Department of the Interior stated that we’d be out of oil by 1963.

Looks like the experts prophesizing doomsday were wrong before, but that’s not slowing down the new experts today.

Now they’re claiming that all oil reserves will be depleted by 2050.

Bulk up while you can

So instead of staying stuck and being caught in an endless cycle of theoretical debate, we can do something about the situation today.

Here is some good news: When it comes to getting our oil changes done or refueling our vehicle, we can find ways to drastically reduce costs. 

1.

3 Stack-Step to Save On Motor Oil/Fluids

The first option is to buy motor oil and oil filters in bulk. Your vehicle needs regular maintenance, and your oil change demands the most frequent amount of service. Here are 3 steps you can take to stack your savings the next time you need an oil change:

1) Buy oil and filters in bulk.

You could buy oil in bulk and do your own oil changes, which saves you the most amount of money. However, if you don’t want to do your own oil changes this method will still work for you. Just follow along in the 2nd part below.

We’ll use Walmart as an example.
They offer Mobil 1 High Mileage Synthetic Motor Oil:

saving money on bulk engine oil 1

It costs you $268.32 to buy 12 jugs of synthetic motor oil at Walmart. 

So we got the oil. Next we need oil filters.

For oil filters I’ll use a 2011 KIA Sorento as an example (because that’s what I drive). 12 oil filters would cost me $116.76.

With FREE Shipping.

Combining the engine oil and oil filters together, that comes out to a total of $385.08 for 12 oil changes.

save money on oil changes

But if you went to Jiffy Lube, you’d be paying around $87 to do one synthetic oil change:

not cheap engine oil

That means you could only do four synthetic oil changes at Jiffy Lube. And you would pay a total of $348 to get them to do it for you: 

4 oil changes X $87 = $348

So which method is cheaper?

If you get more than 4 oil changes from Jiffy Lube, you’re now paying more than if you had gone to Walmart to get your own oil.

So, if you stayed with getting your own engine oil at Walmart, that means you could do eight more oil changes for your vehicle. Thus beating Jiffy Lube in value any day:

12 jugs – 4 jugs = 8 jugs left

Which saves you from spending an additional $696 by choosing not to go to Jiffy Lube for the remaining eight oil changes.

8 oil changes X $87 = $696

You could eat good for two months with that type of money saved.

2) Go to the dealer or lube shop with the oil you have in bulk.

This is for you people who don’t want to do their own oil changes.

Now that you’ve got your oil in bulk from STEP 1, you can bring that with you to a lube shop or dealership. Request that you need an oil change done using your own oil that you’ve brought.

This will reduce the cost from your final bill because you wont need to pay for the shop oil, since you’ve already brought that to do the oil change.

You’d only be paying for labor; which lube shops are willing to do for you. Dealers wont usually charge much for this either. But if they do, you can always go to a lube shop.

From my experience I’ve seen labor for this service as low as $25 working at Mr. Lube

Since it cost you around $31 to bring your own oil and filter, now add $25 for the service at the lube shop. That’s about $51 total cost to you. Which is not too bad since it is better than paying $87 at Jiffy Lube. A savings of $16.

With 12 oil changes done that would save you $432.

$16 X 12 oil changes = $432

3) Use coupons that lube shops frequently offer.

Now here’s where I’ll give Jiffy Lube some credit. They’re always offering $10 discount coupons. You can download their coupon online and print it out for your next visit. Check them out here.

The savings are not as big. But if you were to do 12 oil changes at Jiffy Lube, that’s $120 you’d be saving using the coupons.

That’s like five Fatburger meals and five medium Dominoes pizza all paid for. Or you could get some groceries and cook up 10 solid dinners.

2.

Different Ways to Save Money on Gasoline

Here are several ways to cut prices next time you refuel on gasoline. Most of the methods listed here require a bit of work, but if you need the money you may consider using these options.

Swagbucks

save on gas

If you’re looking for ways to save on gas, you might want to give Swagbucks a try.

Swagbucks offers rewards users for using their platform by completing a certain set of tasks. These tasks are things like completing surveys and playing video games.

It sounds silly but there are $50 Esso gas cards that you can collect as your reward. It usually requires 5000 Swagbucks to redeem.

They’ve got high reviews from other people online, which is pretty impressive. So if you’ve got some time to earn these kinds of rewards, consider signing up with Swagbucks.

Use GEICO to find cheaper gas

save on gas 2

GEICO has a gas store locator that will show you where cheaper fuel stations are in your local area are. All you have to do is enter in your postal code / zip code and GEICO will show you the rest.

I see some stores are charging a bit less than the going rate in Alberta, Canada. A decent fill up of 40 litres of gas would save me $2.60 at DOMO. Not too bad at all.

Check out GEICO and see if you can save on gas today.

Carpool

You could share your ride with other friends or coworkers to reduce the cost of traveling. Either you could be the designated driver, or the passenger. And the more people sharing the ride, the better.

More people pitching in going in a similar direction, could add up in some decent savings over time.

Say you’re the driver and you usually spend $20 a day to commute to work and back. If four people each pitched in $5 a day, that would cover your daily gasoline costs. Over a 5 day work-week, that’s $100 saved.

If you went to work 20 days in the month, that would be $400 saved. Multiply that by 12 months and you’ve just saved yourself about $4,800 for the year.

Fuel savings that start to add up.

Take transit

Taking a bus or subway train is a viable option as well. It’s been available for the last two centuries, and the practical nature of it won’t change anytime soon.

Sure you’re packed into a more crowded transport, but you don’t have to pay gas money or car insurance. That saves you more money than carpooling for sure.

Ride a bike

Here is the cheapest solution of them all to save on gas (2nd after walking). You only need a one time purchase up front to have your very own bicycle. And that can last you for years no problem.

Maintenance is not too expensive either. You’d be saving even more than carpooling or taking a form of mass transportation (such as bus or subway train).

All you would need is a comfortable backpack to lug all the essential things around with you (i.e. groceries and/or other personal items). You would have to travel light, but your costs would be even lighter. 

You don’t have to pay for gas, car insurance, or a monthly bus pas to use mass transportation. Just a one time fee up front to earn a mass pile of savings cycling your way to savings.

3.

Save Money with Government Seized Vehicles

This option wont directly reduce gas and oil costs for you, but it could smash the costs of purchasing another vehicle when you need your own ride. 

Use the auction to find bargain deals

gov auction

If you’re thinking about purchasing a vehicle soon but you want the best deals out there, try using an online auction. You can find government seized vehicles, which are a better option than purchasing salvage titles

And some of the seized vehicles you find could start with bids as low as 90% off the retail price. 

Some final thoughts.

Even though we’re going through some turbulent times right now, it is clear that there are ways we can navigate through this oil crisis.

As Sheikh Ahmed Zaki Yamani, former Saudi oil minister said, “The stone age did not end because the world ran out of stones, and the oil age will not end because we run out of oil.”

With electric vehicles on the rise, it’s only logical to assume that they’re the next step forward to answer our crude oil problem. Which means we’ll have some form of alternative transportation to keep moving us forward at the very least.

But as far as electric vehicles becoming superior to completely replace gasoline vehicles is still up for speculation. Here are 7 Reasons Electric Vehicles Won’t Replace Gasoline Vehicles.

But, at least now you have a roadmap to guide you on your journey to slash high oil prices in half. 

This frees up a lot of extra cash you’ll need for other important essentials in your life. Essentials that could help you get past this slump into the next boom cycle.

August 03, 2021