Oil that cannot be extracted at a profit is considered to be unavailable. What are the five factors that change over time and determine the availability?

The point at which oil demand will peak has long been a focus of debate. bp chief economist Spencer Dale and Bassam Fattouh, director of The Oxford Institute for Energy Studies, argue that this focus seems misplaced. The significance of peak oil is that it signals a shift from an age of perceived scarcity to an age of abundance – and with it, a likely shift to a more competitive market environment↑

Explanation:

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