World's oil production peak reckoned in near future

11/11/2002
Fig. 6 in Parker's recent article1 in Oil and Gas Journal places the peak of world oil production in the year 2035.However, a modification of Parker's equation (see equation 3 below) leads to a simple graphical method that makes a minimum number of assumptions. That graph strongly implies a world production peak around 2005 (Fig. 2).Several of M. King Hubbert's followers conclude that world oil production will start to decline in this decade,2 in contrast to other analyses that place the peak in the distant future.3 This is an enormously important issue. Four or 5 years is not enough time to get additional oil flowing from unconventional sources or to implement many of the pro...
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