Peak Oil (Hubbert's Peak)
After a long while, I've decided to write a post for this long-neglected blog. One of the topics that we don't talk about much in Malaysia is "peak oil". "Peak oil" is based on the theory formed by M. King Hubbert, a geoscientist who worked at the Shell research lab in Houston, Texas. (Source: Wikipedia entry on M King Hubbert ) In simple words, "peak oil" refers to that point in time when the production of oil in a certain area starts to decline. The production of oil in that region would follow a bell-shaped curve. (Source: Wikipedia entry on Hubbert peak theory ) In other words, after production has "peaked", it becomes more difficult to produce oil. In other words, the "peak" in peak oil refers to the peak predicted by Hubbert's theory, i.e. the top of the bell-shaped curve. The theory is applicable to resources other than oil. Simply explained, production of oil follows the bell-shaped curve predicted by Hubber...