Peak gas is the point in time at which the maximum global natural gas (fossil gas) production rate is reached, after which the rate of production enters its terminal decline. Natural gas is a fossil fuel formed from plant matter over the course of millions of years. It is a finite resource and thus considered to be a non-renewable energy source.
The concept of peak gas follows from M. King Hubbert's Hubbert peak theory, which is most commonly associated with peak oil. Hubbert saw gas, coal and oil as natural resources, each of which would peak in production and eventually run out for a region, a country, or the world. Since Hubbert's initial predictions in 1956, "the proper application of ever more powerful statistical techniques has reduced much of the uncertainty about the supply of oil and natural gas," and shown Hubbert's use of an exponential decline model to be statistically adequate in explaining real world data.
Read more about Peak Gas: Gas Demand, World Peak Gas, See Also
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