That will take too long.
I believe the petrochemical industry currently uses 5% of the oil produced. It has been clear to me for years that this is the best way to use oil.
As for a reduction, I believe that this will come from a boost in the economy, if that goes too quickly, through the water problems that we are going to have if we exceed our capacities. If production capacity is doubled, the volume of water will be doubled. Some want to triple, if not quadruple, current production. This area of development functions in a private market context. The best way to impose a reduction is probably through management of economic interests. There will also be social interests, because the Kyoto protocol and greenhouse gases will be factors in political decisions.
Thus, in my opinion, a number of factors will slow development, which is fine, because we will need oil for hundreds of years to come. It will always be very useful. Proponents are thinking of their investments. Their amortization must extend over a certain period of time. How can this be managed? I would say that these costs must be integrated into their economic and strategic planning. Some are in the process of doing this. Companies are currently integrating these costs and it seems clear to me that this is already slowing down future projects.