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Oil production forecasts on which predictions of peak oil are based are sometimes made within a range which includes optimistic (higher production) and pessimistic (lower production) scenarios.
Some observers, such as petroleum industry experts Kenneth S.So for example, if the tenancy starts on 1st of January, the landlord should serve notice by 1st May (i.e.tenant should have received notice by then), which means the tenant should vacate on July 1st (6 months from when the tenancy began).By comparing the fit of various other models, it was found that Hubbert's methods yielded the closest fit over all, but that none of the models were very accurate.“Few analysts now adhere to a symmetrical bell-shaped production curve.This is correct, as there is no natural physical reason why the production of a resource should follow such a curve and little empirical evidence that it does.” The report noted that Hubbert had used the logistic curve because it was mathematically convenient, not because he firmly believed it to be correct.Break clauses really are about flexibility for both tenant and landlord.
They provide landlords/tenants the opportunity to break a tenancy if personal circumstances change.
Pessimistic predictions of future oil production made after 2007 stated either that the peak had already occurred, The idea that the rate of oil production would peak and irreversibly decline is an old one.
In 1919, David White, chief geologist of the United States Geological Survey, wrote of US petroleum: "...
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Peak oil theory is based on the observed rise, peak, fall, and depletion of aggregate production rate in oil fields over time.
Global demand for crude oil grew an average of 1.76% per year from 1994 to 2006, with a high growth of 3.4% in 2003–2004.