English En
  • Deutsche De
  • English En
  • Français Fr
  • Русский Ru

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our marketing and analytics partners who may combine it with other information you've provided to them or which they've separately collected from you. You also may to see our Privacy Policy. By clicking the OK button below, you accept our cookies.

Authors:

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

James Buchan