The Hubbert peak theory, also known as "peak oil", concerns the long-term rate of extraction and depletion in conventional petroleum and other fossil fuels. It is named after American geophysicist Marion King Hubbert, who created a model of known oil reserves, and proposed, in a paper he presented to the American Petroleum Institute in 1956 [1], that oil production would peak in the continental United States between 1965 and 1970, and worldwide in 2000.
Comments