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The standard Hubbert curve.For applications, the x and y scales are replaced by time and production scales. U.S. Oil Production and Imports 1910 to 2012. In 1956, Hubbert proposed that fossil fuel production in a given region over time would follow a roughly bell-shaped curve without giving a precise formula; he later used the Hubbert curve, the derivative of the logistic curve, [6] [7] for ...
The Hubbert curve is an approximation of the production rate of a resource over time. It is a symmetric logistic distribution curve, [ 1 ] often confused with the "normal" gaussian function . It first appeared in "Nuclear Energy and the Fossil Fuels," geologist M. King Hubbert 's 1956 presentation to the American Petroleum Institute , as an ...
Crude oil production has since risen sharply from 2009 through 2014, so the rate of US oil production in October 2014 was 81% higher than the average rate in 2008. [12] The actual U.S. production curve deviates from Hubbert's 1956 curve in significant ways:
The U.S. economy’s growth slowed sharply in the final quarter of 2020, with Thursday’s GDP release showing an annualized growth rate of 4.0%, from a growth rate of 33% in the three months ...
[17] However, in the late 1970s and early 1980s, global oil consumption actually dropped (due to the shift to energy-efficient cars, [18] the shift to electricity and natural gas for heating, [19] and other factors), then rebounded with a lower rate of growth in the mid 1980s. Thus oil production did not peak in 1995, and has climbed to more ...
Reserves growth also commonly occurs in previously existing fields, as the characteristics of the reservoir become better understood, as fields are extended laterally, or new oil and gas reservoirs are found in existing fields. Reserve growth may also take place due to technological and economic changes.
For example, with an annual growth rate of 4.8% the doubling time is 14.78 years, and a doubling time of 10 years corresponds to a growth rate between 7% and 7.5% (actually about 7.18%). When applied to the constant growth in consumption of a resource, the total amount consumed in one doubling period equals the total amount consumed in all ...
The issue is still subject of numerous studies, and prompting academic argument. That's mainly because the "energy invested" critically depends on technology, methodology, and system boundary assumptions, resulting in a range from a maximum of 2000 kWh/m 2 of module area down to a minimum of 300 kWh/m 2 with a median value of 585 kWh/m 2 according to a meta-study from 2013.