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More Fun with Oil and Gas

January 13, 2014

Watts Up With That?

Guest Post by Willis Eschenbach

Well, having had such a good time with M. King Hubbert meeting the EIA, I thought I’d toss out another puzzle. This one is inspired by a statement from the King himself that someone quoted in that thread, viz:

“A child born in the middle 30s,” Hubbert told reporters, “will have seen the consumption of 80 percent of all American oil and gas in his lifetime; a child born about 1970 will see most of the world’s [reserves] consumed.”

Since M. King Hubbert was concerned about how most of the world’s reserves were going to be consumed, I thought I’d see how much of the US reserves have been consumed over the last third of a century. It’s an interesting answer …

us proven reserves and cumulative productionFigure 1. A comparison of the annual estimates of the US proved oil reserves (red line), and the US cumulative oil production…

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