Tag Archives: Hubbert

An Economic Theory of Limited Oil Supply

We seem to hear two versions of the story of limited oil supply: 1. The economists’ view, saying that the issue is a simple problem of supply and demand. Substitution, higher prices, demand destruction, greater efficiency, and increased production of … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged , , , , | 156 Comments

Steep oil decline or slow oil decline?

Someone wrote asking the following question: Dear Gail, I have been reading quite a bit about peak oil recently. I get the impression (not based on data) that at some point there will be a quite steep decline in oil … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged , , , , , | 25 Comments