Peak Oil Crisis

1
Peak Oil Crisis

• By Eileen McLaughlin

2
Two Main Points

• Hubberts Peak and the declining oil resources
• The options that may be used for alternative
  energy resources

3
(No Transcript)
4
History of Oil

• In the 1950s, U.S. was the worlds leading
  producer of oil.
• People did not care to think about the future.
• One man, Marion King Hubbert, changed this
  perspective and created a theory that oil
  production would peak very soon.

5
Hubberts Peak

• 1956- M. King Hubbert predicted that the rate and
  speed at which the oil is being produced by the
  United States would peak around 1970 and it would
  decline much more rapidly after the peak.
• There are three methods in which he came to this
  theory.

6
Hubberts Peak

• 1. Chances of finding oil.
• 2. If plotted, bell-shaped curve.
• 3. Oil pumped vs. oil produced.

7
Criticism/ Praise

• Many rejected his theory at first.
• Confirmed in 1971
• Dependency on OPEC
• Considered hero to conservationists
• Praised for his theory

8
Oil Conservation

• Chinas oil conservation
• Voluntary
• Rationing
• Deprivation
• Lifestyles will change

9
Recovery Methods

• Steam Injection
• Carbon Dioxide Injection
• Hydrocarbon Injection
• 11 other methods

10
Other Resources

• Shale Oil
• Heavy oil
• Natural Gas
• Coal
• Nuclear Energy