Economics of oil


A model/simulator to understand the prediction of peak global oil production, and to learn about oil as an energy source, its peak and reserves, and the economics and geopolitics of oil.

Students will customize parameters such as the peak year, peak width, and the total reservoir size to view the Hubbert curve that shows peak oil production. They can compare the generated curve with the data set for US oil production, global oil production, or whale oil production.

Use this tool to help your students find answers to:

  1. According to this model, when is maximum global oil production achieved?
  2. According to this model, when is maximum U.S. oil production achieved?

Image credit: null

Visit Tool

By David Archer (The university of Chicago)

Hosted at David Archer Climate Models

Language: English

Location: Global

Grade: Undergraduate

Access: Online

Computer Skills: Intermediate

Discipline: Economics, Environmental Sciences

Discipline Topics: Oil, Oil Peak Production, Hubbert’s Peak

Climate Topics: Energy, Economics, and Climate Change