Implications To Peak Oil
Peak Oil derives from the Hubbert peak theory, which theorizes that production of any finite resource over time will have roughly inverse curves before and after the peak of the resource's production (creating an approximately bell shaped curve). Hubbert's theory is used to predict when a resource will reach its peak of production by studying past resource discovery and production trends. Peak Oil advocates often show only crude oil production which may have set a global peak in 2005.
Backstop resource theory maintains that alternatives will be developed as they are needed.
Read more about this topic: Backstop Resources
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