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Peak oil is the theorized point in time when the maximum rate of global oil production will occur, after which oil production will begin an irreversible decline. [2] [3] [4] The primary concern of peak oil is that global transportation heavily relies upon the use of gasoline and diesel fuel.
Matthew Simmons. Matthew Roy Simmons (April 7, 1943 [4] – August 8, 2010) was founder and chairman emeritus of Simmons & Company International, and was a prominent figure in the field of peak oil. Simmons was motivated by the 1973 energy crisis to create an investment banking firm catering to oil companies.
The Hubbert peak theory says that for any given geographical area, from an individual oil-producing region to the planet as a whole, the rate of petroleum production tends to follow a bell-shaped curve. It is one of the primary theories on peak oil. Choosing a particular curve determines a point of maximum production based on discovery rates ...
That shift means that the planet could soon reach what is commonly referred to as “peak oil,“ the point when global production of oil reaches its high point before entering into steady decline ...
Peak oil theories have been around for decades. Marion King Hubbert accurately predicted a peak in U.S. oil production in 1956, in the first widely published peak oil theory. Since then, people ...
Demand for fossil fuels is set to peak by the end of the decade, according to a new projection from the International Energy Agency — but it might not be enough to curb the worst impacts of ...
Predicting the timing of peak oil. Peak oil is the point at which oil production, sometimes including unconventional oil sources, hits its maximum. Predicting the timing of peak oil involves estimation of future production from existing oil fields as well as future discoveries.
Peak oil, or the point in time when petroleum extraction has reached its maximum and production declines, has drawn a lot of attention from speculators. The impacts of oil supply not meeting ...
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