Question

Hubbert’s Curve predicts a peak for any resource we may exploit. a) Explain how this model applies to fossil fuels. b) The model argues that we will never run out of any resources. Explain how this is possible. c) Doesn’t the application of new technologies such as hydraulic fracturing (“fracking”) and deep-sea drilling make Hubbert’s Curve incorrect? Explain.

Answer 1

Ans.

Before directly jumping to the answer, let me first explain what is a Hubbert curve. This curve was invented by King Hubbert and predicts a resource will be depleted within what period of time. Hubbert Peak Theory also says that when we plot year on the X Axis and annual production of oil resources in a geographical space, we find out a bell shaped curve.

Annual Production Year

Application to the fossil fuels

Hubbert firstly applied this model to the production of oil in USA. There is continuous depletion of fossil fuels all over the world and we need to produce more and more oil to fulfill increasing demands of the people thus we need to draw Hubbert curve to predict when a fossil fuel is going to deplete.

Though this model says that there is initial time when technology is discovered, the production is comparatively less but after sometime, there comes a time when we master the technology and the production reaches at the top and then due to over extraction, the resource starts depleting.

But technologies like fracturing and deep sea drilling are against this since we can increase the production with time bu bringing more and more area under jurisdiction. There can be various peak and decline times of a resource. It ignores the amount reserved. Obviously this model is also based on some hypothesis and thus no model can be universal and it also has few limitations.

I hope the answer is clear to you now, if you have any further query, please leave a comment, i will try my best to solve it for you. Goodluck.