Hubbert Peak Theory (Peak Oil)

Theory developed by Dr. M. King Hubbert in the 1940s that says that for any given geographical area, from an individual region or country to the planet as a whole, the rate of natural resource (especially oil) production tends to follow a bell-shaped curve over time. According to Hubbert and today’s complex models, production starts at zero and grows, rises to a peak that can never be surpassed, and then declines to depletion.