Introduction to Peak Oil
Peak oil once sparked fear among policymakers, businesses, and consumers because it proved to be an impending moment when the world could suck the last drops of black gold from the earth. The idea was popularized in the 1950s by geologist M. King Hubbert, who warned that U.S. oil production would follow a bell-shaped curve, eventually reaching an inevitable peak as oil fields matured and declined.
Shift in Narrative
Climate change has turned the narrative on its head in recent years. Instead of fears of scarcity, the debate now focuses on when demand will finally peak as the shift to electric vehicles (EV) and other cleaner energy sources gains momentum. At the same time, political opposition, from delays in banning internal combustion engine vehicles to cutting subsidies for electric vehicles, is raising doubts about how quickly the transition
