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PEAK Oil
/piːk ɔɪl/
Key Insights
- The Hubbert Curve: This theory suggests that oil production follows a bell-shaped curve; "Peak Oil" is the point in time when the maximum rate of extraction is reached, after which production begins to decline.
- Economic Impact: Historically, this term triggered fears of "resource scarcity" and global economic collapse due to rising fuel costs.
- Shift in Perspective: Modern debate has shifted from "Peak Supply" (running out of oil) to "Peak Demand"—the point where society moves to renewables and no longer wants to extract the remaining oil.
Written by Pablo Mathis
27 February 2023 · 00:00 CETUpdated 21 June 2026 · 18:24 CET
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