The Oil Depletion Protocol

by Richard Heinberg

Since oil is the primary fuel of global industrial civilization, its imminent depletion is a problem that will have a profound impact on every aspect of modern life. With-out international agreement on how to manage the decline of this vital resource, the world faces unprecedented risk of conflict and collapse. The Oil Depletion Protocol describes a unique accord whereby nations would voluntarily reduce their oil production and oil imports according to a consistent, sensible formula. This would enable energy transition to be planned and supported over the long term, providing a context of stable energy prices and peaceful cooperation. The protocol will be presented at international gatherings, initiating the process of country-by-country negotiation and adoption and mobilizing public support.