The Future Of Rimini Protokol

I love KISS (Keep It Simply Stupid) to make explanation.At this time i would taka paper from Richard Heinberg about The Rimini Protokol which probably not all have read it before.

The concept of the Depletion Rate is smarts
Each country has a finite endowment of oil from nature; thus, when the first barrel has been extracted, there is accordingly one less left for the future.

What is left for the future consists of two elements:
Remaining Reserves => how much remains in known oilfields.
Yet-to-Find =>. how much remains to be found in the future.
How much is Yet-to-Find may be reasonably estimated by extrapolating the discovery trend of the past.The Depletion Rate equals the total yet-to-produce divided by the yearly amount currently being extracted.
Example:
Norway is a country that reports exceptionally accurate reserve estimates.
The total produced to-date is 18.5 billion barrels (Gb), and 11.3 Gb remain in known fields, with about 2 left to find, giving a rounded total of 32 Gb.
It follows that 13.5 Gb are left to produce.
In 2004, 1.07 Gb were extracted, giving a Depletion Rate of 7.4 percent (1.07/13.5).

For the world as a whole, 944 Gb have been produced; 772 remain in known fields; and an estimated 134 Gb is Yet-to-Find, meaning that 906 Gb are left.
Production of conventional oil in 2004 was 24 Gb, so the Depletion Rate is 2.59 percent (24/906).

OPEN INFORMATION
The Protocol require a system for monitoring production, exports, and imports; but the main problem there are no country would open about their reserve.

The Key succes of these Protocols could achieved oly after all participant would accepted
Domestic Tradable Quotas (DTQs) and also implementing it.
DTQ could rationing both user and producent and it lead them in kinds of place where everyone in the same boat: households, industry, and government would have to work together, facing the same Petroleum Budget, and trading on the same market for Petro-units. Everyone would have a stake in the system. All would have the sense that their own efforts at conservation were not being wasted by the energy profligacy of others, and that the system was fair.

EFFECT FOR OIL COMPANY.
As long as I know except barbeshop and Pizza bussines there are no bussines on these earth have eternal lifes since they have their own life-cycles.For Barbershop owner I could made guarantee no Oil company would invested in Barbershop bussines.but I could also not made guarantee for Oil Company if their future look much like Standard Oil Co. cases.

But they also understand that a stable economic environment are more important to them in the long run than the opportunity to make momentary windfall profits.And they will sometimes make failure by demonized for profiting from the misery of the rest of society; meanwhile, they will be hampered in their operations by the destabilization of national economies resulting from wildly gyrating oil prices.

So "Will You Join Us?"

Happy Monday

Economics Politics Peak Oil