The Seventh Fold

Disclaimer

I am a firm believer in peak oil theory, and there is compelling evidence that we have already reached a jagged plateau which may (or may not) prove to be the ultimate peak. But because oil plays so many important roles in the global economy, oil production forecasting models deserve critical evaluation. As you read this post, take care not to confuse the model (Hubbert linearization) with the theory. While all forecast techniques are flawed, pointing out these shortcomings does not discredit the theory of peak oil. Read more…