March 30, 2012

Hubbert's Peak Oil Prediction Is Wrong

George Weurthner, CounterPunch


Fortune

Each time there is a short-term shortage of oil or the price begins to rise, there is talk of running out of affordable oil, an idea captured by the concept of Peak Oil. Peak Oil is the theoretical point when the maximum rate of oil production is reached and after that time enters into a terminal decline. There is a lot of debate surrounding the Peak Oil theory, with some observers predicting rapid decline in oil production with serious implications for our entire economy and society. . .

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TAGGED: Peak Oil, Oil, CounterPunch

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