Item of General Interest
July 25. I received notice today that an article I helped write is available for free download for the next fifty days. The corrected free link for the article is "An Oil Production Forecast for China Considering Economic Limits." The article discusses the possibility that oil prices may not rise endlessly, and evaluates three future price scenarios. Under the "low" scenario (prices remain under $50 per barrel), oil production in China has already peaked.
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 Hubbert, M. King Hubbert, oil prices, oil supply, peak oil
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 EROEI, EROI, fossil fuels, Hubbert, Hubbert Curve, Liebig's Law of the Minimum
25 Comments
