The " Hubbert Peak "

King Hubbert, a geologist, is the source of a predictive method that aims to determine when the production of an oil field reaches its peak. More generally, the term refers to the Hubbert Peak when the peak of world oil production is reached, the point at which global oil production begins to decline in a sustainable manner. It is difficult to predict when this phenomenon. The most pessimistic forecasts are between the 2005 and 2015, the most optimistic about 2040. ASPO (Association for the Study of the Peak Oil - the Association for the Study of Peak Oil), composed of experts in geology and ancient geological experts in oil exploration, said that the Hubbert Peak will reached in 2007 worldwide, in 2010 for the Middle East. Peak production is one thing, the increase in consumption is another. If the increase in demand is stronger than that of production, the price increases (the law of supply and demand). Although the price of oil is still largely controlled by the countries of OPEC, this trend will eventually be verified.