Hubbert Peak Theory

Hubbert’s Peak Theory suggests that for any finite resource like oil, production follows a bell-shaped curve. Initially, extraction increases rapidly as technology improves and demand grows. It then reaches a peak when roughly half of the total resource has been produced. After the peak, production declines because remaining resources are harder and more expensive to extract. This pattern predicts that based on past trends, global oil production will eventually reach a maximum and then decline, highlighting the importance of planning for resource limitations and transition to alternative energy sources.