Why predictions of “peak oil” are always wrong: The mirage of “peak oil” in America
Oil & Gas 360º
JUNE 5, 2025
But in 2008, the shale revolution took off! The Permian basin has become one of the most productive oil fields in the world, Fig. King Hubbert, who famously predicted in 1956 that U.S. oil production would peak in the early 1970s. He was right—for a time. output did, in fact, decline for several decades. The Texas success story.
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