Chapter 14: Problem 9

What is meant by Hubbert's Peak, and how does it apply to the United States and the world?

Short Answer

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Hubbert's Peak refers to an estimation by M. King Hubbert, suggesting fossil fuel extraction rates would follow a bell curve, peaking and subsequently declining. The theory was substantiated in the United States with the decline in domestic oil production, initiating the 1970 energy crisis and promoting changes in energy sources and policy. Applied globally, it represents the concept of peak oil, advocating for a shift towards renewable energy and sustainable policies.

Step by step solution

Describe Hubbert's Peak

Hubbert's Peak, also known as Hubbert's curve or the Hubbert Peak theory, was formulated by American geologist M. King Hubbert. It suggests that the rate of fossil fuel (like oil and gas) extraction would observe a bell-shaped curve. According to this theory, the extraction rate will increase until it reaches a peak and subsequently starts to decline. The peaking point is referred to as 'Hubbert's Peak'.

Discuss the formulation of Hubbert's Peak

Hubbert first presented his theory in 1956, predicting that the U.S oil extraction rate would peak in the 1970's. He utilized statistical modelling influenced by the then available data and technological progress. His predictions later came true as the U.S oil production witnessed a decline post the 1970's.

Explaining Hubbert's Peak's application to the United States

In the context of the United States, Hubbert's Peak holds significant importance. Notably, the U.S encountered an energy crisis in the 1970's when its oil production started to decline, as predicted by Hubbert, thus making the country heavily dependent on foreign-produced oil. This condition influenced changes in energy policy and spurred investments into alternative energies.

Illustrating Hubbert's Peak's impact on the world

Worldwide, Hubbert's peak is often associated with peak oil, a point where worldwide oil production would begin to decline. This theory prompts concern regarding energy sustainability and compels global policymakers to develop alternatives to fossil fuels, thus shifting towards a more sustainable and green energy policy. However, the exact timing of this 'peak' at global level remains uncertain due to varying factors like technological developments, unconventional oil sources and fossil fuel reserves.

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What is meant by Hubbert's Peak, and how does it apply to the United States and the world?

Short Answer

Step by step solution

Describe Hubbert's Peak

Discuss the formulation of Hubbert's Peak

Explaining Hubbert's Peak's application to the United States

Illustrating Hubbert's Peak's impact on the world

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