Preparing for “Peak Oil”: towards a preliminary agenda

Abstract

“In summary, the problem of the peaking of conventional world oil production is unlike any yet faced by modern industrial society. The challenges and uncertainties need to be much better understood. Technologies exist to mitigate the problem. Timely, aggressive risk management will be essential.” This quotation is from the executive summary of a major report issued in February 2005 on the peaking of world oil production. That in itself is unremarkable, but the document – which has come to be known as “The Hirsch Report” – was sponsored by the United States Department of Energy (DOE). There are all the usual disclaimers about the policy of the United States Government. Nevertheless, as early as 2003, DOE clearly decided that a sound technical analysis of the issues raised by the approach of “Peak Oil” was a job which would be worth the investment of time and money.