[Peakoil] squeezing the last drop...

[Antony Barry]

On 09/06/2006, at 10:27 AM, Jenny Goldie wrote:

> [It seems that the top of Hubbert's Peak will have a few peaks and  
> troughs as more oil like this below is extracted as the price rises  
> and makes it worthwhile. I wonder whether any work has been done on  
> extractable reserves based on specific prices of crude. Jenny]

The Hubbert methodology involves a projection. This projection is  
based on shifting reserve figures and production. It therefore builds  
in economics and new technology as part of the observed behavior. The  
clearest explanation of this I have seen is in Deffeyes [1].

As you go towards the limits of a given province oil fields are  
harder find and produce, more expensive and slower.

Tony

1. Deffeyes, Kenneth S. Beyond Oil : The View From Hubbert's Peak.  
Hill and Wang, 2005. <http://www.amazon.com/exec/obidos/ASIN/ 
0809029561> Chapter 3. The Hubbert  Method. p.35.


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