Tuesday , 28 May 2024

Tag Archives: Hubbert Curve

Hubbert: Peak Oil and the Coming Cultural Crisis

In 1956 Hubbert predicted that US oil peak [production] would be sometime between 1969 and 1971 for [which] he was ridiculed...[but it did precisely that - ] in 1970... Then, in 1974, he predicted [that] the world ] production of crude] oil [would] peak [around] 1998 [qualifying that projection by saying] that if OPEC were to restrict the supply, then the peak would be delayed by 10-15 years which would put it at 2008-2013, or exactly right. OK, now is anyone willing to make a bet that Hubbert's THIRD prophecy about the cultural crisis he expected is wrong? Didn't think so. Here it is [- and I include in the article several suggestions on how Hubbert's 3rd forecast might actually be averted were the powers to be agree to take drastic action, which is unlikely]. Words: 1369

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Peak Oil Is Still With Us – Here’s Why (+2K Views)

In a recent article called There Will Be Oil in the WSJ, Daniel Yergin once again attempts to debunk the concept of peak oil and sees global production capacity growing to 110 mmbpd by 2030, followed by slow decline. In this short report I take a quick look at his key arguments in an effort to bring further convergence between the peak oil and business-as-usual camps. [Unfortunately, I failed to do so concluding that Peak Oil is still very much with us. Let me explain.] Words: 2032

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