In the 1960's 85% of the oil in the world was available for ownership, development, partnerships and such. At the time, 14% of the oils reserves belonged to the Soviet Union.
Today it is the reverse of that ..16% of the world's oil is available. 65% is owned by the nations that possess the fields and 19% has limited access - that is nations, including Russia will allow others to invest and partially own
their oil fields.
It's different now. And, shall we not forget there are some nations that will allow investment and development and then when all is said and done, kick out the major investor.
The rules are different than they were 40 years ago.
Question: when will the world become less dependent on oil = how about exploring
nuclear power again?
Nearly 80% of the energy in France comes from nuclear power. I reckon the French don't care at all what the rest of the world does with their oil.
Why can't other countries do that? Why not the US?
What do you think?
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