2min chapter

The Great Simplification with Nate Hagens cover image

Arthur Berman: “Oil: It Was The Best of Fuels, It Was The Worst of Fuels”

The Great Simplification with Nate Hagens

CHAPTER

Understanding Oil Depletion and Its Implications

This chapter explores the distinct concepts of oil depletion and decline, clarifying the difference between the proven reserves underground and the gradual reduction in production rates. It discusses the impact of new drilling and reserve discoveries on perceptions of oil availability and longevity.

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