The possible local counterterms in supergravity are investigated to all loop orders. Supersymmetry implies that (1) supergravity-matter coupling is one-loop nonrenormalizable, with a specific counterterm; (2) pure supergravity is renormalizable at both one and two loops; (3) it fails at three loops; (4) extended supergravity models may avoid the three-loop catastrophe, and have no dangerous local counterterms to any order. In that case, the nonleading divergences could be removed by field redefinitions, which would establish renormalizability for these systems.