Why 2004 Will Be Remembered as the Year World Oil Production Peaked

Mr. Hubbert, we should have listened. In 1957 M. King Hubbert (1903-1989) predicted in a publication of the American Petroleum Institute, Drilling and Production Practice (p. 17), that the peak of world oil output would come “about the year 2000.”

And it has.

As Richard A. Kerr stated in “The Next Oil Cirisis Looms Large–and Perhaps Close,” Science 281 (21 August 1998): “the gush of oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline . . .” (p. 1128).

AoL