In 1956, Hubbert proposed that fossil fuel production in a given region over time would follow a bell-shaped curve without giving a precise formula; he later used the Hubbert curve, the derivative of the logistic curve, for estimating future production. Hubbert assumed that after fossil fuel reserves (oil reserves, coal reserves, and natural gas reserves) are discovered, production at first increases approximately exponentially, as more extraction commences and more efficient facilities are installed. At some point, a peak output is reached, and production begins declining until it approximates an exponential decline. Hubbert, in his 1956 paper predicted that the United states would peak in 1970, he was laughed at by nay sayers and lost most of the credibility he had. however. 1970 came and USA peaked. Today USA has 2% of the world's crude oil deposits yet produce 8% of the worlds oil. However they consume 25% of the world's produced oil. India and China are massive consumers on the rise. China replaced japan as the second biggest importer of oil a few years back and shows no signs of slowing down, quite the opposite. 10% annual growth in economy which will mean that in 7 years it will double. Here is the problem. The world needs more oil then it can produce, the need will increase and the supply will decrease. What will follow in the decline of oil is panic, famine and wars. the oil peak has been discussed by the best paid, most respected scientists the world over and while some of them say the peak came in december 2006, some say it may be as much as a few years left before it happens. I have included links that will give you a cleared understanding of the events to come and the impact it will have for you in the times ahead. http://www.lifeaftertheoilcrash.net/ : Extensive research thesis. by Matt Savinar. http://en.wikipedia.org/wiki/Hubbert_peak : Basic description. http://en.wikipedia.org/wiki/Peak_oil : Basic description. http://torrentspy.com/torrent/21866...n_and_the_Collapse_of_the_American_Dream_2004 this is a documentary i would recommend watching, it covers what will happen to the American society once Hubbert's peak is in terminal decline. http://torrentspy.com/torrent/1159675/A_Crude_Awakening_The_Oil_Crash_Xvid_AC3 This is another documentary that should be watched. It covers most of the Hubbert's peak information available at this date.