M. King Meets the EIA

Guest Post by Willis Eschenbach Dramatis Personae: The “EIA” is the US Energy Information Agency, the US agency in charge of data about energy production, consumption, and use. It has just released its January 2014 Short Term Energy Report, with current and projected oil production figures. And “M. King” is Marion King Hubbert, the man who…

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A look at oil production

Saudi Production Profile Guest post by David Archibald World conventional oil production peaked in 2005 and has been on a plateau at about that level ever since. This graph suggests that the market changed from inherent over-supply to inherent tightness in June 2004: Figure 1: World Oil Production and Oil Price 1994 – 2011 World…

Peak Oil – now for the downslope

Guest post by David Archibald When I posted on peak oil’s effect on agricultural costs and food security, some comments questioned the idea of peak oil. What follows is a summary of the subject. We will start with what is considered to be the most successful economic forecast ever made – the prediction in March…