'dwindling possibilities' is a correct and usable phrase in written English.
You can use it to indicate that the possibilities are decreasing, whether it's something that has already happened or something that is expected to happen in the future. For example, "With each passing day, the towering pile of bills we must pay has dwindling possibilities of being paid off before the due date."
President Bush's successor will inherit two wars and the realities of limited resources, flagging popular will, and the dwindling possibilities of what can be achieved by American power.
In this light, Coltrane's last recordings, which make few concessions to a conventional audience, now appear to be a final push for inner freedom, a flight from the dwindling possibilities of jazz itself.
As Prime Minister, he has done more than any other political figure to embolden and elevate the reactionary forces in Israel, to eliminate the dwindling possibility of a just settlement with the Palestinians, and to isolate his country on the world diplomatic stage.
But with that possibility dwindling with every square kilometre completed, experts have been forced to consider alternatives.
By late Sunday, the supernova possibilities were dwindling.
It wasn't until nine months later, still no job, no possibilities and dwindling unemployment benefits, that I realized the activities I enjoyed most were not marketing related.
All of those dreams that you had when you were young, all of the possibilities, when you lock into marriage and kids, do the possibilities dwindle or go away?" Find out when "This Is 40" arrives in theaters on Dec. 21.
Like "The White Boy Shuffle," "The Sellout" follows the dwindling sunset of American possibility.
Asked about the possibility of dwindling crowds at Continental Arena, Granik said: "It's an issue of some concern.
That the word "integrated" was no longer a part of the district's self-espoused vision for itself reflects a dwindling sense of political possibility to build a truly desegregated school system.
More than any other movie, La Dolce Vita preserves the enchantment of parties, even their enchanted weariness; the film bestows on us that sense of the possibilities present in an evening out, as well as the light melancholy that falls as the possibilities dwindle.
