But over the last five years, advancements in hydraulic fracking and other new technologies have eliminated any risks to the availability of oil for at least the next fifty years. Coupling supply increases with more efficient use of energy, oil demand may now be in a terminal decline cycle. Given that fracking is driven by the availability of water supplies, the world is now entering a period where transnational competition for water will be a key determinant for economic growth and national security.
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