When gold turns to sand : A review of the challenges for fossil fuel rich states posed by climate policy
Petrostates face an unprecedented crisis as oil and gas revenues, on which their economies and states are built upon, are set to diminish rapidly the coming 20 years. The decline in revenues is an effect of the adopted climate policies in the major oil consuming countries that, together with a strong development of renewable energy, reduces the future demand for oil and gas. The challenges that thPetrostates face an unprecedented crisis as oil and gas revenues, on which their economies and states are built upon, are set to diminish rapidly the coming 20 years. The decline in revenues is an effect of the adopted climate policies in the major oil consuming countries that, together with a strong development of renewable energy, reduces the future demand for oil and gas. The challenges that th