Final answer:
While it's false that worldwide oil reserves will soon be depleted, estimates suggest known petroleum reserves may last for about 60 years and natural gas for around 120 years. Technological and exploratory advancements could alter these expectations, and geopolitical factors affect the accessibility of these reserves.
Step-by-step explanation:
The statement 'The worldwide oil reserves will soon be depleted' is generally considered to be false, although it is based on the current estimated reserves and consumption rates. Current estimates suggest that the known reserves of petroleum will last for about 60 more years, while natural gas may last for around 120 years. However, it should be noted that these are estimates based on proven reserves, which are conservative numbers, and the actual supply could potentially last longer if new reserves are discovered or if we increase the efficiency of our consumption. Additionally, the definition of what constitutes reserves can change over time as extraction technologies improve and as economic conditions make previously uneconomical deposits viable.
The world has already consumed approximately 1.5 trillion barrels of oil, which is close to the amount of proven reserves remaining. Nevertheless, the earth is well explored, and the chances of discovering large, unanticipated deposits akin to another middle-east-size oil field are considered low. Peak oil production is predicted to occur by the middle of the 21st Century, after which a steady decline is expected. Geopolitical factors also play a role in worldwide oil reserves since many of the countries with the largest reserves are not the biggest consumers, leading to complex international dependencies.