March 2012
Intermediate to advanced
272 pages
6h 50m
English

The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and, without timely mitigation, the economic, social, and political costs will be unprecedented.
—Robert L. Hirsch et al., Peaking of World Oil Production
In the 1970s, it was thought that we were going to run out of oil and, of course, it turned out that there is a lot of oil. The theory today is that we're about halfway through the global endowment. Our view is that we're probably more like 20 ...