Sustainable energy systems - chapter introduction  (Page 7/7)

A single oil well follows a pattern of increasing production in initial years as its plentiful resources are tapped to declining production in mature years as its resources are depleted. These two trends are separated by a peak in production of the well. M. King Hubbert extrapolated this pattern from one well to many and in 1956 predicted that the United States’ oil production would peak in the mid-1970s. Although widely criticized at the time, Hubbert's prediction proved true. This success led to widespread predictions for the peak of world oil production. The concept of peak oil is an inevitable consequence of using oil faster than it can be made. However, attempts to predict when the peak will occur are notoriously difficult.