Peak Oil
The point when global oil extraction reaches maximum production and thereafter declines due to depleting reserves.
Formula
Hubbert's Curve: Q(t) = Q_max × sech²[(t − t_peak) / τ]
Real World
US conventional oil production peaked in 1970 exactly as geologist M. King Hubbert predicted in 1956; shale (tight oil) fracking post-2010 created a second production surge, complicating simple peak oil predictions.
Exam Focus
Contextualise peak oil with unconventional reserves (shale, tar sands) — questions often reward candidates who acknowledge these extend production timelines.
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