Tag Archives: M. King Hubbert

How the Peak Oil story could be “close,” but not quite right

A few years ago, especially in the 2005-2008 period, many people were concerned that the oil supply would run out. They were concerned about high oil prices and a possible need for rationing. The story was often called “Peak Oil.” Peak … Continue reading

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The real oil limits story; what other researchers missed

For a long time, a common assumption has been that the world will eventually “run out” of oil and other non-renewable resources. Instead, we seem to be running into surpluses and low prices. What is going on that was missed … Continue reading

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Reasons for our Energy Predicament – An Overview

Quiz: What will cause world oil supply to fall? Too little oil in the ground Oil prices are too low for oil producers Oil prices are too high for oil consumers leading to recession, debt defaults, and ultimately a cut … Continue reading

Posted in Financial Implications, Introductory Post | Tagged , , , , , , | 434 Comments

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

The Context of Hubbert’s Peak in World Oil Forecast

(Note: This is a post I wrote which is published in today’s ASPO-USA newsletter.) Recently when I was reading some of the papers M. King Hubbert wrote, one thing struck me was the context in which he made his forecast … Continue reading

Posted in Oil and Its Future | Tagged , , | 13 Comments