Oil

Over the last few years, news of world renowned geologist M. King Hubbert’s theory of peak oil theory has circulated widely. Most have now heard his theory which in a nutshell says, global production of Oil and Natural Gas will decline due to increased difficulty in getting to the Global reserves of these fossil fuels. Many have studied the peak oil phenomenon, trying to confirm (or deny) Hubbert’s timing of the peak. Oil companies and International Energy Agencies have both confirmed and denied the case for “Peak Oil” over the years. But current information from the Energy Information Administration sheds new light on the subject as Doug Hornig of Casey’s Energy Opportunities shows us in this article.