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For a rigid body to remain in equilibrium it is necessary and sufficient that
Oil Reserves
Quantities of crude oil that are confirmed to be recoverable under current economic and operating conditions.
Hotelling Rule
A principle from the economics of non-renewable resource management suggesting that the net price of a resource should increase at the rate of interest over time to ensure efficient extraction and usage.
Marginal Cost
The expense incurred from manufacturing an extra unit of a product or service.
Hotelling Rule
An economic theory that predicts how the price of a non-renewable resource should rise over time, balancing between resource depletion and the interest rate.
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