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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

Expert verified
Hubbert's Peak is the theory predicting the peak and decline in production of a finite resource, exemplified by U.S. oil production peaking around 1970 as Hubbert predicted in 1956. The theory has global implications, predicting a similar peak and decline in global oil production.

Step by step solution

01

Understanding Hubbert's Peak Theory

Hubbert's Peak, also known as Hubbert Curve, is a model for the production rate of a particular resource over time. The theory suggests that the rate of production starts slow, increases to a peak, and then declines like a bell-shaped curve. The peak signifies the point of maximum production.
02

Implementation on United States

In the context of the United States, Hubbert in 1956 accurately predicted that its oil production would peak around 1970, followed by a decline, despite the consumption rate increasing. This indeed happened, verifying Hubbert's theory.
03

Global Implications

From a global perspective, many scientists predict the global oil production will follow a similar trend as was observed in the United States. It implies that the production of petroleum worldwide will reach a peak and subsequently start to decline while demand continues to rise.

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