Hubbert curve
From Wikipedia, the free encyclopedia
The Hubbert curve, named after the geophysicist M. King Hubbert, is the derivative of the logistic function:
The Hubbert curve has some resemblance to, but is different from, the shape of the probability density function of the normal distribution. It was popularised as a model of the rate of petroleum extraction. According to this model, the rate of production of oil is determined by the rate of new oil well discovery; a "Hubbert peak" in the oil extraction rate will thus be followed by a gradual decline of oil production.
For more information on petroleum exhaustion, see the Hubbert peak theory article.
[edit] External links
- The Hubbert Curve: Its Strengths And Weaknesses article by Jean Laherrère.
- The Hubbert Curve An explanation for beginners.
