How To Talk To An Economist About Peak Oil

I for one would like to see better communication between economists, geologists, and petroleum engineers about the timing and consequences of the eventual decline in global annual production rates of crude petroleum. In part the failure to communicate better with each other stems from differences in the language, assumptions, and paradigms with which those of us from different specialties approach this issue. As one small step toward bridging that gap, I’d like to lay out for noneconomists a few of the key aspects of how economists might think about peak oil.
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