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THE PAST PRESENT AND FUTURE SIGNIFICANCE OF OPEC IN GLOBAL .
Although faced with environmental policies that are focused towards limiting oil usage and heavy taxation which leads to instability and reduce in investment in the oil sector, Oil is still expected to be the world largest source of energy in the nearest future even though oil's contribution to the total global primary energy mix is expected to fall from 34.5% in 2010 to 28.4% in 2035 while natural gas (see figure below) expected to grow significantly, (OPEC, 2012b).