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There is a pressing need to estimate with should be pooled together to ensure that they will
accuracy for how long petrol resources will be not be faced with a situation where O/G resour-
entirely exploi-ted worldwide and especially in ces are abundant without a way to exploit them.
the developing countries. Developing a strategic It is a legitimate concern that must be
exit or transi-tion to other sources of energy is addressed. It is essential to establish a fund
going to be the logical next step. In those exclusively dedica-ted to auto-financing oil/gas
countries, gas seems to be widely available, investments in oil-rich countries to ensure
making it an excellent alter-native energy source. internal growth and eli-minate dependence on
It’s equally important not to overlook solar and western financial institu-tions. The challenges
aeolian sources. ahead will not be easy, and it’s time to ring the
The majority of multinational firms are aware of There alarm.
the current situation and have focused on deve- Last, but not least, renegotiating new agreements
loping countries for future growth. They are even with international firms should be a priority in
changing their names to be politically correct. In order to ensure a win-win situation for the exp-
this industry, the key to success will remain in loitation of the resources. It is imperative to de-
being proactive and anticipating new trends. velop new economic terms as most petroleum
Financing of O/G new projects is a major chal- resources will be produced and consumed in
lenge for the developing world, so all resources developing nations.

oil tanker and rig walvis bay, Namibia, Africa

Perspectives 59