Publication date: 2007-10-01
First Published in: Energy Sources, Part B: Economics, Planning, and Policy
Authors: W. B Carlson
Logistic functions were used to model the depletion of the uniform resource for the case of world oil production. Results are presented for various curve fits to determine the value of parameters that best match the historical record of world oil production. Calculations depict a range of resource limits, namely the ultimately recoverable resource (URR) and the peak year of production (PY) for both assumed URR (two parameters) models and variable URR (three parameters) models. Logistic fitting yields a minimum URR estimate of 1.3 terabarrels (TB) and a maximum of 5.2 terabarrels. The peak production years fall between the years 1989 and 2027. Probable values of URR based on the confluence of the logistic URR trend lines yields an estimate of 2.2 or 2.8 TB corresponding to peak production during the year 2004 or year 2011, respectively.
Published in: Energy Sources, Part B: Economics, Planning, and Policy, Volume 2, Issue 4 October 2007, pages 421 – 428
Available from: Taylor & Francis