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Showing posts from April 1, 2012

The World is Finite, Isn't It?

Yesterday I gave a presentation to a group of distinguished business leaders.  In my presentation, I tried to show that the global rate of production of petroleum and the associated lease condensate is at an all-time high or a "peak" that at a greatly expanded scale looks like a "plateau."  I used my published, peer-reviewed extensions of King Hubbert's approach to support my arguments.


I received a significant push back from several members of the audience.  Their arguments were as follows:
King Hubbert tried to address the question of finite resources and today we know he was wrong.Even though Hubbert cycles emerge for individual oil provinces, they cannot emerge for the world.  We have been predicting the peak of global oil production for a long time and it never happened up until now.Technology will always be ahead of geology and, therefore, we will continue to produce ever more petroleum each year, just from different places, and at a higher price.Oil shale…