Oil scarcity: What have the past three decades revealed?

Oil shortages have been predicted over the past 30 years. In fact, oil is more plentiful now in an economic sense than in 1973. The reason for such misconceptions lies mainly in reliance on analytical techniques that do not comprehend oil as an economic commodity.

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Bibliographic Details
Published in:Energy policy 2006-03, Vol.34 (5), p.508-514
Main Author: Watkins, G.C.
Format: Article
Language:English
Subjects:
Applied sciences
Economic data
Energy
Energy consumption
Energy economics
Energy efficiency
Energy industry
Energy policy
Energy resources
Exact sciences and technology
Fossil fuels and derived products
General, economic and professional studies
History
Hubbert curve
International aspects
Oil
Oil price
Oil prices
Oil reserves
Oil supply
Petroleum industry
Policy studies
Power resources
Reserves
Scarcity
Shortages
Studies
Supply and demand
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Description
Summary:Oil shortages have been predicted over the past 30 years. In fact, oil is more plentiful now in an economic sense than in 1973. The reason for such misconceptions lies mainly in reliance on analytical techniques that do not comprehend oil as an economic commodity.
ISSN:0301-4215
1873-6777
DOI:10.1016/j.enpol.2005.11.006