Peer-reviewed

In 1956, M. King Hubbert, chief consultant for the Shell Development Company's exploration and production research division, forecasted that U.S. oil production would peak in the early 1970s. He subsequently updated this prediction using newer data, but the predicted timing of peaking did not change significantly (see Hubbert [1982] for a review and references to earlier papers). In 1971, U.S. annual production of crude oil peaked at slightly more than three billion barrels (bbl). Yet, Hubbert's model continues to be challenged by some. For instance, according to economist Michael Lynch, president of Strategic Energy and Economic Research, Inc., Winchester, Mass., it was only after Hubbert published his predictions “that the Hubbert curve came to be seen as explanatory in and of itself, that is, geology requires that production should follow such a curve” [Lynch, 2003].

Published in: EOS (Transactions American Geophysical Union), Volume 87, Issue 20, May 2006, Pages 199-219
Available from: American Geophysical Union

The world passed the halfway point of oil supply in 2005. World demand for oil likely will severely outstrip supply in 2008, leading to increasingly higher oil prices. Consequences are likely to include increasing gasoline prices, rapidly increasing inflation, and subsequently a series of increasingly severe recessions followed by a worldwide economic depression. Consequences may include, particularly in industrialized countries such as the United States, massive unemployment, economic collapse, and chaos.

Published in: Bulletin of Science, Technology & Society, Volume 28, Issue 3, May 2008, Pages 187-191
Available from: http://dx.doi.org/10.1177/0270467608316098

To investigate the situation of conventional oil and gas, this paper examines the global oil and gas discoveries, proved reserves, production, consumption and price. All the influencing factors can be subjected to risk and opportunity analyses, so in the paper, we build upon a risk-opportunity analysis framework, which is a new train of thought. To forecast the peak time of oil and gas production, we used the methods of multi-Hubbert model forecasting and data forecasting. Our results showed that the world oil production will reach a peak between 2010 and 2015 and the gas production will reach a peak around 2030 Oil peak is coming and gas peak is on the way. The main purpose of forecasting oil and gas production peak is give people enough time for preparing mitigation and adaptation plans. This means taking decisive action well before the problem is obvious.

Published in: Petroleum Science, Volume 7, Issue 1, February 2010, Pages 136-146
Available from: SpringerLink

Peak oil theory predicts that oil production will soon start a terminal decline. Most authors imply that no adequate alternate resource and technology will be available to replace oil as the backbone resource of industrial society. This article uses historical cases from countries that have gone through a similar experience as the best available analytical strategy to understand what will happen if the predictions of peak oil theorists are right. The author is not committed to a particular version of peak oil theory, but deems the issue important enough to explore how various parts of the world should be expected to react. From the historical record he is able to identify predatory militarism, totalitarian retrenchment, and socioeconomic adaptation as three possible trajectories.

Published in: Energy Policy, article in press
Available from: ScienceDirect

In the last few decades petroleum has been consumed at a much faster pace than new reserves have been discovered. The point at which global oil extraction will attain a peak ("peak oil") and begin a period of unavoidable decline is approaching. This eventuality will drive fundamental changes in the quantity and nature of energy flows through the human economic system, which probably will be accompanied by economic turmoil, political conflicts, and a high level of social tension. Besides being a geological and economic issue, peak oil is also a fundamental concern as it pertains to ecological systems and conservation because economics is a subsystem of the global ecosystem and changes in human energy-related behaviors can lead to a broad range of effects on natural ecosystems, ranging from overuse to abandonment. As it becomes more difficult to meet energy demands, environmental considerations may be easily superseded. Given the vital importance of ecosystems and ecosystem services in a postpetroleum era, it is crucially important to wisely manage our ecosystems during the transition period to an economy based on little or no use of fossil fuels. Good policies can be formulated through awareness and understanding gained from scenario-based assessments. Presently, most widely used global scenarios of environmental change do not incorporate resource limitation, including those of the Millennium Ecosystem Assessment and the Intergovernmental Panel on Climate Change. Considering the potential magnitude of the effects of peak oil on society and nature, the development of resource-constrained scenarios should be addressed immediately. Ecologists and conservation biologists are in an important position to analyze the situation and provide guidance, yet the topic is noticeably absent from ecological discussions. We urge politicians, corporate chief executives, thought leaders, and citizens to consider this problem seriously because it is likely to develop into one of the key environmental issues of the 21st century.

Published in: Conservation Biology, article in press
Available from: Interscience

Global energy markets are continuing to experience an increase in petroleum prices. From a relatively low $20 per barrel in 2002, prices reached as high as $78 per barrel in 2006. During this time, there has been increasing discussion of “Peak Oil”—the concept that global oil production is peaking and beginning an irrevocable decline.

Even among those who do not consider Peak Oil a near-term problem that merits concerted action, there is a growing consensus that prices are trending higher and that increasing proportions of the world’s conventional oil1 supply will be coming from nations that are members of the Organization of the Petroleum Exporting Countries (OPEC), especially those in the Middle East. The world is entering a period where growing global demand, OPEC dominance of oil production, and numerous geopolitical threats to supplies have combined to create great uncertainty about the future cost and security of oil.

Meanwhile, domestic natural gas production is lagging behind demand growth despite major demand destruction in certain U.S. industrial sectors. Major expansions of liquid natural gas imports, largely from OPEC countries, are being proposed to fill the supply gap. With these energy supply problems in mind, I review some predictions concerning both oil and natural gas production peaks and discuss how these peaks would impact industry.

Published in: Environmental Quality Management, Volume 17, Issue 1, October 2007, Pages 83 - 90
Available from: Wiley Interscience

The year 2008 has witnessed unprecedented fluctuations in the oil prices. During the first three-quarters, the oil price abruptly increased to $140/bbl, a level that has never been reached before; then because of the global economic crisis, the price dramatically plunged to less than $50/bbl by the end of the year losing more than 64% of the maximum price in less than three months period. The supply of crude oil to the international market oscillated to follow suite according to the law of supply and demand. This behavior affected oil production in all exporting countries. Nonetheless, the demand for crude oil in some developing countries, such as China and India, has increased in the past few years because of the rapid growth in the transportation sector in addition to the absence of viable economic alternatives for fossil fuel. The rapid growth in fuel demand has forced the policy makers worldwide to include uninterrupted crude oil supply as a vital priority in their economic and strategic planning.

Even though forecasting should be handled with extreme caution, it is always desirable to look ahead as far as possible to make an intellectual judgment on the future supplies of crude oil. Over the years, accurate prediction of oil production was confronted by fluctuating ecological, economical, and political factors, which imposed many restrictions on its exploration, transportation, and supply and demand. The objective of this study is to develop a forecasting model to predict world crude oil supply with better accuracy than the existing models. Even though our approach originates from Hubbert model, it overcomes the limitations and restrictions associated with the original Hubbert model. As opposed to Hubbert single-cycle model, our model has more than one cycle depending on the historical oil production trend and known oil reserves. The presented method is a viable tool to predict the peak oil production rate and time. The model is simple, accurate, and totally data driven, which allows a continuous updating once new data are available. The analysis of 47 major oil producing countries estimates the world’s ultimate crude oil reserve by 2140 BSTB and the remaining recoverable oil by 1161 BSTB. The world production is estimated to peak in 2014 at a rate of 79 MMSTB/D. OPEC has remaining reserve of 909 BSTB, which is about 78% of the world reserves. OPEC production is expected to peak in 2026 at a rate of 53 MMSTB/D. On the basis of 2005 world crude oil production and current recovery techniques, the world oil reserves are being depleted at an annual rate of 2.1%.

Published in: Energy & Fuels, Volume 24, Issue 3, February 2010, Pages 1788–1800
Available from: ACS publications

The global trade in goods depends upon reliable, inexpensive transportation of freight along complex and long-distance supply chains. Global warming and peak oil undermine globalization by their effects on both transportation costs and the reliable movement of freight. Countering the current geographic pattern of comparative advantage with higher transportation costs, climate change and peak oil will thus result in peak globalization, after which the volume of exports will decline as measured by ton-miles of freight. Policies designed to mitigate climate change and peak oil are very unlikely to change this result due to their late implementation, contradictory effects and insufficient magnitude. The implication is that supply chains will become shorter for most products and that production of goods will be located closer to where they are consumed.

Published in: Ecological Economics, Volume 69, Issue 2, 15 December 2009, Pages 427-434
Available from: ScienceDirect

More than 20 countries in the world have already reached a maximum capacity in their coal production (peak coal production) such as Japan, the United Kingdom and Germany. China, home to the third largest coal reserves in the world, is the world's largest coal producer and consumer, making it part of the Big Six. At present, however, China's coal production has not yet reached its peak. In this article, logistic curves and gaussian curves are used to predict China's coal peak and the results show that it will be between the late 2020s and the early 2030s. Based on the predictions of coal production and consumption, China's net coal import could be estimated for coming years. This article also analyzes the impact of China's net coal import on the international coal market, especially the Asian market, and on China's economic development and energy security.

Published in: Energy Policy, Volume 38, Issue 1, January 2010, Pages 512-519
Available from: ScienceDirect

Chinese coal consumption continues to rise as the country's economy and industry expand. Coal is particularly critical for China's fast-growing power sector, generating about 80% of electricity output. Notwithstanding the importance of coal and electricity, many international forecasts today underestimate their rising use in China. This paper acknowledges the current world financial crisis and assumes that Chinese GDP growth to 2025 will not again approach double-digit levels. Using the scenario analysis, this paper demonstrates that even with conservative assumptions about Chinese GDP growth and income elasticity of electric demand to 2025, the country will likely experience much higher coal demand and emit much greater volumes of carbon dioxide than forecast by various international energy agencies. The paper also analyzes how China's domestic coal reserves may be threatened within two decades, possibly affecting long-term economic growth in China, as well as world coal prices.

Published in: Energy Policy, Volume 38, Issue 5, May 2010, Pages 2116-2122
Available from: ScienceDirect