“I see, as in a map, the end of all”. Like William Shakespeare’s Queen Elizabeth, King Hubbert saw the end of oil not in a map, but in a bell-shaped curve, predicting as far back as 1956 that oil would peak at 12.5 billion barrels a year around 2000. Improved extraction techniques and new sources of energy have proved him wrong so far, but the crux of peak oil theory lies elsewhere.

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