The Cost of Oil And Hubbert’s Peak

There is now a theory that world oil production is approaching the same “Hubbert’s Peak.” Kenneth Deffeyes of Princeton, author of “Hubbert’s Peak: The Impending World Oil Shortage,” is one of the principle proponents. Applying Hubbert’s techniques to world oil, Deffeyes found that non-OPEC discoveries peaked in 1975. That means we should be approaching peak production right about now.
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