The First Half the Oil Age saw the rapid expansion of just about everything, fuelled by cheap and easy energy. But oil and gas are finite natural resources formed in the geological past meaning that they are subject to depletion. The Second Half of the Oil Age will therefore see a corresponding contraction. This paper reviews the nature of oil and gas and the politico-economic factors affecting the reporting of reserves. It touches on the personal experiences of the author who some years ago suggested that countries should cut consumption to match world depletion rate under the so-called Rimini Protocol, which has since attracted interest in some countries.
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Author Name: C.J. Campbell
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Keywords: Peak Oil; Oil Depletion; Oil Politics and Economics
ISSN: 2169-642X
EISSN: 2169-6438
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