Another point to consider about gas and oil prices is the relative worthelessness of the american dollar compared to what it used to be. In terms of time it takes to make the money to buy a gallon of gas, its still cheaper than it has been in a very long time. Until the price climbs due to scarcity or government fiat, economy of vehicles will be dismissed.

Very interesting argument trying to prove a world hubbard peak with a USA curve. I didnt know data worked like that. Was that taught at Penn State perhaps?

John :blink:

PS. The reason US production peaked like it did was that imports were cheaper than producing it ouselves. Not because there is no more oil to produce.

I wasn't. I was showing how Hubbert predicted the U.S. peak in oil production. He analyzed U.S. reserves vs. the amount burned, and predicted U.S. oil production would peak in the 1970s.

He was correct.

He will be equally correct about the 2010 peak in Arabia.


Even if you tapped every U.S. reserve, and no Arab imports, it would last less than a month. The U.S. is scrapping the bottom of the well.

You can't drink a gallon of water if you only have a quart.

The U.S. can't be energy-independent & suck down 500 billion barrels a year when the U.S. only has 25 billion left.