06 November 2011

ClubOrlov: Hubbert's Third Prophecy

1st Prophecy: US oil peak would be sometime between 1969 and 1971. It peaked in 1970.

2nd Prophecy: Hubbert predicted the world oil peak to happen about 1998. However he DID say that if OPEC were to restrict the supply, then the peak would be delayed by 10-15 years which would put it at 2008-2013

3rd Prophecy: A cultural crisis (Arab Spring and Occupy Wall Street); we have evolved a culture so heavily dependent upon the continuance of exponential growth for its stability that it is incapable of reckoning with problems of non-growth...