Peak oil - Revision history

Jmdonev: 1 revision imported

2026-06-04T17:16:56Z

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Energy>Jmdonev at 23:01, 15 May 2026

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← Older revision		Revision as of 23:01, 15 May 2026
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	[[Category:Done ~~2015~~-09-06]]		[[Category:Done 2026-06-01]]
	[[File:480px-Texas_Oil_Production_1935_to_2005.png\|400px\|framed\|right\|Figure 1. In some places, the peak point for oil production is very obvious. This is the case in the above graph of oil production in Texas.<ref>Wikimedia Commons. (June 30, 2015). ''Texas Oil Production'' [Online]. Available: https://commons.wikimedia.org/wiki/File:Texas_Oil_Production_1935_to_2005.png#/media/File:Texas_Oil_Production_1935_to_2005.png</ref>]]		[[File:480px-Texas_Oil_Production_1935_to_2005.png\|400px\|framed\|right\|Figure 1. In some places, the peak point for oil production is very obvious. This is the case in the above graph of oil production in Texas.<ref>Wikimedia Commons. (June 30, 2015). ''Texas Oil Production'' [Online]. Available: https://commons.wikimedia.org/wiki/File:Texas_Oil_Production_1935_to_2005.png#/media/File:Texas_Oil_Production_1935_to_2005.png</ref>]]
	<onlyinclude>'''Peak oil''' is the predicted event, based off of the theory of [[Hubbert's peak]], when the maximum rate of extraction and production of [[oil]] is reached. After this point, production will fall continually over time.</onlyinclude><ref>Financial Times. (June 29, 2015). ''Definition of Peak Oil'' [Online]. Available: http://lexicon.ft.com/Term?term=peak-oil</ref> This peak exists for oil because ~~of the steady exponential growth in~~ the rate ~~of use~~ of oil while the overall amount of oil ~~worldwide~~ is depleted. Although this event is frequently discussed in terms of oil as a [[resource]], there exists a peak point for all non-renewable resources (including resources that have little to do with [[energy]] like naturally occurring diamonds or gold). Overall, the production of a finite resource tends to follow a bell shaped curve, with the peak occurring where around half of the resource has been extracted. In theory, this holds true for a single well, oil field, region, and even the world.<ref name="RE1">Peak Oil. (June 30, 2015). ''Peak Oil News'' [Online]. Available: http://peakoil.com/what-is-peak-oil</ref> Note that real production rates are far bumpier than the bell shaped curves produced by simple theories.		<onlyinclude>'''Peak oil''' is the predicted event, based off of the theory of [[Hubbert's peak]], when the maximum rate of extraction and production of [[oil]] is reached. After this point, production will fall continually over time.</onlyinclude><ref>Financial Times. (June 29, 2015). ''Definition of Peak Oil'' [Online]. Available: http://lexicon.ft.com/Term?term=peak-oil</ref> This peak exists for oil because the rate of oil being used wants to continue to grow, while simultaneously, the overall amount of oil is depleted. Although this event is frequently discussed in terms of oil as a [[resource]], there exists a peak point for all non-renewable resources (including resources that have little to do with [[energy]] like naturally occurring diamonds or gold). Overall, the production of a finite resource tends to follow a bell shaped curve, with the peak occurring where around half of the resource has been extracted. In theory, this holds true for a single well, oil field, region, and even the world.<ref name="RE1">Peak Oil. (June 30, 2015). ''Peak Oil News'' [Online]. Available: http://peakoil.com/what-is-peak-oil</ref> Note that real production rates are far bumpier than the bell shaped curves produced by simple theories.

	The prediction made by Hubbert was mostly correct, even with new supplies from Alaska and the Gulf of Mexico~~, production~~ of oil in the United States peaked ~~initially in~~ 1970 (with a slight jump with production of oil in Alaska)~~, and production is currently declining~~.<ref name=boyle>G.Boyle, B.Everett, S.Peake, J.Ramage. (June 30, 2015). ''Energy Systems and Sustainability: Power for a Sustainable Future'', 2nd Ed. Oxford, UK: Oxford University Press, 2012</ref> ~~Predictions~~ were ~~first~~ made for the United States, but similar predictions can be applied worldwide. However, modelling the entire world and making predictions is a difficult task as many companies ~~are secretive about~~ the amount of oil in their reserves.		The prediction made by Hubbert was mostly correct, even with new supplies from Alaska and the Gulf of Mexico. Production of oil in the United States initially peaked around 1970 (with a slight jump with production of oil in Alaska).<ref name=boyle>G.Boyle, B.Everett, S.Peake, J.Ramage. (June 30, 2015). ''Energy Systems and Sustainability: Power for a Sustainable Future'', 2nd Ed. Oxford, UK: Oxford University Press, 2012</ref> These predictions were made for the United States, but similar predictions can be applied worldwide. However, modelling the entire world and making predictions is a difficult task as many companies don't share the amount of oil in their reserves.

	At this point, the bigger concern is for the environmental consequences of [[climate change]] from [[combustion\|burning]] this oil than actually running out of oil~~. Time Magazine did a good piece on this [http://science.time.com/2013/05/15/the-iea-says-peak-oil-is-dead-thats-bad-news-for-climate-policy/ here]~~. See [[consequences of climate change]] for more information on why the [[climate]] consequences are so disconcerting.		At this point, the bigger concern is for the environmental consequences of [[climate change]] from [[combustion\|burning]] this oil than actually running out of oil. See [[Climate change consequences on rainforests\|consequences of climate change]] for more information on why the [[climate]] consequences are so disconcerting.

	==Unconventional Sources==		==Unconventional Sources==
	[[File:World_Oil_Production.png~~\|400px\|framed~~\|left\|Figure 2. Worldwide production of oil has appeared to peak in the past, but advancements in technology and the discovery of new reserves has prevented a peak that has lasted too long. However, this world production will eventually peak.<ref>Wikimedia Commons. (June 30, 2015). ''World Oil Production'' [Online]. Available: https://en.wikipedia.org/wiki/File:World_Oil_Production.png</ref>]]		[[File:World_Oil_Production.png\|left\|Figure 2. Worldwide production of oil has appeared to peak in the past, but advancements in technology and the discovery of new reserves has prevented a peak that has lasted too long. However, this world production will eventually peak.<ref>Wikimedia Commons. (June 30, 2015). ''World Oil Production'' [Online]. Available: https://en.wikipedia.org/wiki/File:World_Oil_Production.png</ref>\|thumb\|380x380px]]

	One of the biggest issues with peak oil is that currently there is no ~~answer or~~ solution to the problem~~. Today the world consumes about four times as much oil as it discovers~~, ~~thus~~ oil ~~is continually running out~~.~~<ref name="RE1"/>~~ Many argue that [[unconventional resource\|unconventional sources of oil]] will be the answer to peak oil because of the enormous [[reserve]]s of this unconventional oil worldwide. However, the issue with unconventional oil is that it can be more expensive, time-consuming, and difficult to extract this oil.		One of the biggest issues with peak oil is that currently there is no solution to the problem, of demanding more oil than can be supplied. Many argue that [[unconventional resource\|unconventional sources of oil]] will be the answer to peak oil because of the enormous [[reserve]]s of this unconventional oil worldwide. However, the issue with unconventional oil is that it can be more expensive, time-consuming, and difficult to extract this oil.

	Through enhanced oil recovery, it is possible to obtain more oil out of existing [[oil and gas reservoir\|reservoirs]]. Additionally, extraction of oil from [[oil sands]] is becoming more and more prominent. The advancement of technologies that allow oil to be extracted in these ways could work to increase the size of oil reserves.<ref name=boyle/> Additionally, there is ~~large~~ potential for synthetic gas-to-liquids fuels and [[coal]]-to-liquids fuels that could provide an answer to peak oil.		Through enhanced oil recovery, it is possible to obtain more oil out of existing [[oil and gas reservoir\|reservoirs]]. Additionally, extraction of oil from [[oil sands]] is becoming more and more prominent. The advancement of technologies that allow oil to be extracted in these ways could work to increase the size of oil reserves.<ref name=boyle/> Additionally, there is potential for synthetic gas-to-liquids fuels and [[coal]]-to-liquids fuels that could provide an answer to peak oil.


			== Peak Supply versus Peak Demand ==
			[[File:Global-oil-demand-growth-by-sector-2021-2024 (1).png\|right\|thumb\|420px\|Figure 3. Global oil demand growth by sector, 2021-2024. IEA. Licence: CC BY 4.0 <ref>IEA (2025), ''Global oil demand growth by sector, 2021-2024'', IEA, Paris https://www.iea.org/data-and-statistics/charts/global-oil-demand-growth-by-sector-2021-2024-2, Licence: CC BY 4.0</ref>]]
			Original peak oil predictions of the 1990s and 2000s didn't take into account technological innovation, reserve growth, or price-driven discovery. The supply of oil worldwide doesn't seem to be peaking, "question is no longer 'when will we run out of oil?' but rather 'when will the world stop wanting oil?'"<ref name=":0">Shelll Energy Insights (2026). (Accessed May 13, 2026). ''Peak Oil Explained: From Hubbert's Curve to the Demand Peak Debate'' [Online]. Available: https://shelllgas.com/articles/peak-oil-explained.html</ref>

			The forces driving peak demand are different than the geological constraints of supply. Transportation uses roughly 60% of global oil, an electric vehicle adoption is more prevalent with countries mandating phase-outs of internal combustion engines. Renewable energy is replacing oil in power energy as it becomes more cost-accessible. Fuel efficiency has improved. Climate policy and carbon regulations increases the price of oil and economically encourages efficiency and electrification.<ref name=":0" />

			Forecasters predict different timings for the oil demand peak, from demand already peaking in 2023 to demand growing into the 2030s.<ref name=":0" />

			==For Further Reading==
			*[[Reserve vs occurrence]]
			*[[Reserve]]
			*[[Fossil fuel]]
			*[[Hubbert's peak]]
			*[[Renewable and sustainable energy]]
			*Or explore a [[Special:Random\|random page]]

	==References==		==References==
	{{reflist}}		{{reflist}}
	[[Category:Uploaded]]		[[Category:Uploaded]]

J.williams: 1 revision imported

2015-09-18T16:51:57Z

1 revision imported

← Older revision	Revision as of 16:51, 18 September 2015
(No difference)

Jmdonev at 18:17, 4 September 2015

2015-09-04T18:17:25Z

← Older revision		Revision as of 18:17, 4 September 2015
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	[[Category:Done 2015-07-01]]		[[Category:Done 2015-09-06]]
	[[File:480px-Texas_Oil_Production_1935_to_2005.png\|400px\|framed\|right\|Figure 1. In some places, the peak point for oil production is very obvious. This is the case in the above graph of oil production in Texas.<ref>Wikimedia Commons. (June 30, 2015). ''Texas Oil Production'' [Online]. Available: https://commons.wikimedia.org/wiki/File:Texas_Oil_Production_1935_to_2005.png#/media/File:Texas_Oil_Production_1935_to_2005.png</ref>]]		[[File:480px-Texas_Oil_Production_1935_to_2005.png\|400px\|framed\|right\|Figure 1. In some places, the peak point for oil production is very obvious. This is the case in the above graph of oil production in Texas.<ref>Wikimedia Commons. (June 30, 2015). ''Texas Oil Production'' [Online]. Available: https://commons.wikimedia.org/wiki/File:Texas_Oil_Production_1935_to_2005.png#/media/File:Texas_Oil_Production_1935_to_2005.png</ref>]]
	<onlyinclude>'''Peak oil''' is the predicted event, based off of the theory of [[Hubbert's peak]], when the maximum rate of extraction and production of [[oil]] is reached. After this point, production will fall continually over time.</onlyinclude><ref>Financial Times. (June 29, 2015). ''Definition of Peak Oil'' [Online]. Available: http://lexicon.ft.com/Term?term=peak-oil</ref> This peak exists for oil because of the steady exponential growth in the rate of use of oil while the overall amount of oil worldwide is depleted. Although this event is frequently discussed in terms of oil as a [[resource]], there exists a peak point for all non-renewable resources (including resources that have little to do with [[energy]] like naturally occurring diamonds or gold). Overall, the production of a finite resource tends to follow a bell shaped curve, with the peak occurring where around half of the resource has been extracted. In theory, this holds true for a single well, oil field, region, and even the world.<ref name="RE1">Peak Oil. (June 30, 2015). ''Peak Oil News'' [Online]. Available: http://peakoil.com/what-is-peak-oil</ref> Note that real production rates are far bumpier than the bell shaped curves produced by simple theories.		<onlyinclude>'''Peak oil''' is the predicted event, based off of the theory of [[Hubbert's peak]], when the maximum rate of extraction and production of [[oil]] is reached. After this point, production will fall continually over time.</onlyinclude><ref>Financial Times. (June 29, 2015). ''Definition of Peak Oil'' [Online]. Available: http://lexicon.ft.com/Term?term=peak-oil</ref> This peak exists for oil because of the steady exponential growth in the rate of use of oil while the overall amount of oil worldwide is depleted. Although this event is frequently discussed in terms of oil as a [[resource]], there exists a peak point for all non-renewable resources (including resources that have little to do with [[energy]] like naturally occurring diamonds or gold). Overall, the production of a finite resource tends to follow a bell shaped curve, with the peak occurring where around half of the resource has been extracted. In theory, this holds true for a single well, oil field, region, and even the world.<ref name="RE1">Peak Oil. (June 30, 2015). ''Peak Oil News'' [Online]. Available: http://peakoil.com/what-is-peak-oil</ref> Note that real production rates are far bumpier than the bell shaped curves produced by simple theories.
Line 5:		Line 5:
	The prediction made by Hubbert was mostly correct, even with new supplies from Alaska and the Gulf of Mexico, production of oil in the United States peaked initially in 1970 (with a slight jump with production of oil in Alaska), and production is currently declining.<ref name=boyle>G.Boyle, B.Everett, S.Peake, J.Ramage. (June 30, 2015). ''Energy Systems and Sustainability: Power for a Sustainable Future'', 2nd Ed. Oxford, UK: Oxford University Press, 2012</ref> Predictions were first made for the United States, but similar predictions can be applied worldwide. However, modelling the entire world and making predictions is a difficult task as many companies are secretive about the amount of oil in their reserves.		The prediction made by Hubbert was mostly correct, even with new supplies from Alaska and the Gulf of Mexico, production of oil in the United States peaked initially in 1970 (with a slight jump with production of oil in Alaska), and production is currently declining.<ref name=boyle>G.Boyle, B.Everett, S.Peake, J.Ramage. (June 30, 2015). ''Energy Systems and Sustainability: Power for a Sustainable Future'', 2nd Ed. Oxford, UK: Oxford University Press, 2012</ref> Predictions were first made for the United States, but similar predictions can be applied worldwide. However, modelling the entire world and making predictions is a difficult task as many companies are secretive about the amount of oil in their reserves.

	At this point, the bigger concern is for the environmental consequences of [[climate change]] from [[combustion\|burning]] this oil than actually running out of oil. Time Magazine did a good piece on this [http://science.time.com/2013/05/15/the-iea-says-peak-oil-is-dead-thats-bad-news-for-climate-policy/ here]. See [[consequences of climate change]] for more information on why the climate consequences are so disconcerting.		At this point, the bigger concern is for the environmental consequences of [[climate change]] from [[combustion\|burning]] this oil than actually running out of oil. Time Magazine did a good piece on this [http://science.time.com/2013/05/15/the-iea-says-peak-oil-is-dead-thats-bad-news-for-climate-policy/ here]. See [[consequences of climate change]] for more information on why the [[climate]] consequences are so disconcerting.

	==Unconventional Sources==		==Unconventional Sources==
Line 12:		Line 12:
	One of the biggest issues with peak oil is that currently there is no answer or solution to the problem. Today the world consumes about four times as much oil as it discovers, thus oil is continually running out.<ref name="RE1"/> Many argue that [[unconventional resource\|unconventional sources of oil]] will be the answer to peak oil because of the enormous [[reserve]]s of this unconventional oil worldwide. However, the issue with unconventional oil is that it can be more expensive, time-consuming, and difficult to extract this oil.		One of the biggest issues with peak oil is that currently there is no answer or solution to the problem. Today the world consumes about four times as much oil as it discovers, thus oil is continually running out.<ref name="RE1"/> Many argue that [[unconventional resource\|unconventional sources of oil]] will be the answer to peak oil because of the enormous [[reserve]]s of this unconventional oil worldwide. However, the issue with unconventional oil is that it can be more expensive, time-consuming, and difficult to extract this oil.

	Through enhanced oil recovery, it is possible to obtain more oil out of existing [[oil and gas reservoir\|reservoirs]]. Additionally, extraction of oil from [[oil sands]] is becoming more and more prominent. The advancement of technologies that allow oil to be extracted in these ways could work to increase the size of oil reserves.<ref name=boyle/> Additionally, there is large potential for synthetic gas-to-liquids fuels and coal-to-liquids fuels that could provide an answer to peak oil.		Through enhanced oil recovery, it is possible to obtain more oil out of existing [[oil and gas reservoir\|reservoirs]]. Additionally, extraction of oil from [[oil sands]] is becoming more and more prominent. The advancement of technologies that allow oil to be extracted in these ways could work to increase the size of oil reserves.<ref name=boyle/> Additionally, there is large potential for synthetic gas-to-liquids fuels and [[coal]]-to-liquids fuels that could provide an answer to peak oil.

	==References==		==References==
	{{reflist}}		{{reflist}}
	[[Category:Uploaded]]		[[Category:Uploaded]]

J.williams: 1 revision imported

2015-08-26T21:31:29Z

1 revision imported

← Older revision	Revision as of 21:31, 26 August 2015
(No difference)

J.williams at 16:58, 12 August 2015

2015-08-12T16:58:27Z

New page

[[Category:Done 2015-07-01]]
[[File:480px-Texas_Oil_Production_1935_to_2005.png|400px|framed|right|Figure 1. In some places, the peak point for oil production is very obvious. This is the case in the above graph of oil production in Texas.<ref>Wikimedia Commons. (June 30, 2015). ''Texas Oil Production'' [Online]. Available: https://commons.wikimedia.org/wiki/File:Texas_Oil_Production_1935_to_2005.png#/media/File:Texas_Oil_Production_1935_to_2005.png</ref>]]
<onlyinclude>'''Peak oil''' is the predicted event, based off of the theory of [[Hubbert's peak]], when the maximum rate of extraction and production of [[oil]] is reached. After this point, production will fall continually over time.</onlyinclude><ref>Financial Times. (June 29, 2015). ''Definition of Peak Oil'' [Online]. Available: http://lexicon.ft.com/Term?term=peak-oil</ref> This peak exists for oil because of the steady exponential growth in the rate of use of oil while the overall amount of oil worldwide is depleted. Although this event is frequently discussed in terms of oil as a [[resource]], there exists a peak point for all non-renewable resources (including resources that have little to do with [[energy]] like naturally occurring diamonds or gold). Overall, the production of a finite resource tends to follow a bell shaped curve, with the peak occurring where around half of the resource has been extracted. In theory, this holds true for a single well, oil field, region, and even the world.<ref name="RE1">Peak Oil. (June 30, 2015). ''Peak Oil News'' [Online]. Available: http://peakoil.com/what-is-peak-oil</ref> Note that real production rates are far bumpier than the bell shaped curves produced by simple theories.

The prediction made by Hubbert was mostly correct, even with new supplies from Alaska and the Gulf of Mexico, production of oil in the United States peaked initially in 1970 (with a slight jump with production of oil in Alaska), and production is currently declining.<ref name=boyle>G.Boyle, B.Everett, S.Peake, J.Ramage. (June 30, 2015). ''Energy Systems and Sustainability: Power for a Sustainable Future'', 2nd Ed. Oxford, UK: Oxford University Press, 2012</ref> Predictions were first made for the United States, but similar predictions can be applied worldwide. However, modelling the entire world and making predictions is a difficult task as many companies are secretive about the amount of oil in their reserves.

At this point, the bigger concern is for the environmental consequences of [[climate change]] from [[combustion|burning]] this oil than actually running out of oil. Time Magazine did a good piece on this [http://science.time.com/2013/05/15/the-iea-says-peak-oil-is-dead-thats-bad-news-for-climate-policy/ here]. See [[consequences of climate change]] for more information on why the climate consequences are so disconcerting.

==Unconventional Sources==
[[File:World_Oil_Production.png|400px|framed|left|Figure 2. Worldwide production of oil has appeared to peak in the past, but advancements in technology and the discovery of new reserves has prevented a peak that has lasted too long. However, this world production will eventually peak.<ref>Wikimedia Commons. (June 30, 2015). ''World Oil Production'' [Online]. Available: https://en.wikipedia.org/wiki/File:World_Oil_Production.png</ref>]]

One of the biggest issues with peak oil is that currently there is no answer or solution to the problem. Today the world consumes about four times as much oil as it discovers, thus oil is continually running out.<ref name="RE1"/> Many argue that [[unconventional resource|unconventional sources of oil]] will be the answer to peak oil because of the enormous [[reserve]]s of this unconventional oil worldwide. However, the issue with unconventional oil is that it can be more expensive, time-consuming, and difficult to extract this oil.

Through enhanced oil recovery, it is possible to obtain more oil out of existing [[oil and gas reservoir|reservoirs]]. Additionally, extraction of oil from [[oil sands]] is becoming more and more prominent. The advancement of technologies that allow oil to be extracted in these ways could work to increase the size of oil reserves.<ref name=boyle/> Additionally, there is large potential for synthetic gas-to-liquids fuels and coal-to-liquids fuels that could provide an answer to peak oil.

==References==
{{reflist}}
[[Category:Uploaded]]