Knowledge of petroleum geology defines the size of the World's oil and g-as resources, but the reporting of reserves is grossly unreliable. Discovery has been in decline for many years, meaning that production must soon also fall. The decline of oil will have a severe impact on the modern economy which has become dependent on it. Accordingly, a Protocol to match demand against the falling Supply, as imposed by Nature, is urgently needed to lessen world tensions and achieve an orderly transition. (c) 2006 Elsevier Ltd. All rights reserved.