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Before we start, I want to make sure that anyone going beyond this point knows what’s in store for them. I want to be clear about what I mean by petroleum economics; I want to be clear about where I’m going to draw the line regarding what I believe is necessary to know and what isn’t; and I want to be clear about how I’m going to say what I’m going to say. That way, no one will be disappointed expecting this book to be something it isn’t.

So let’s begin with the most important question: what is petroleum economics?

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