Peak Oil Production
1. Did the concept of Peak Worldwide Production of Crude Oil disappear (or Forgotten)?
2. No symptoms of Production Rate to Peak (at least) within the next few decades?
3. Decline-from-the-midpoint approach – used by Hubbert (for US) – can’t be extended for global-scale production, if the Production Rate @ any given field Peaks before the Number of Active Wells Peaks? Or, do we require site specific details including topography, subsurface geology and the spatial distribution of wells?
4.Despite the current sophistication on gathering/generating data, if there exists uncertainty in even the best data, then, won’t it limit quantitative prediction?
Peak oil still exist but the issue is that there are many reservoirs to be discovered yet. Examples: Under the Artic, antartic, in the easterb shores of South America, the western shores of Africa, the Gulf of Mexico in the Mexican part, maybe some between Indonesia and Australia and between Australia and New Zealand
In addition novel techniques push the recovery from known reservoirs such as horizontal drilling, hydraulic fracturing, enhanced oil recovery, CO2 injection and displacement.
It may be possible that the peak rate can not be reached before a new source of energy is developed such as nuclear fusion (already done in the lab but far from industrial scale)
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