Four decades later, the world consumes between three and six barrels of oil for every one that it finds.

The world uses almost 2 cubic miles of coal a year.

However, in 1970,

Evidence is now mounting that world oil production is peaking, or is close to it.

Typically it takes 40 years after the peak of discovery for a country to reach its peak of production, after which it enters a permanent fall.

54 of the 65 major oil producing nations have already peaked in production.

In due course, Britain started using oil and gas from the North Sea, and in the year 2000, oil and gas production from the North Sea also peaked, and they're now on the decline.

They all depend on cheap oil, but oil is peaking.

That's the metaphor, the old metaphor.

Peek

Triple Peaks

Shell geophysicist M. King Hubbert predicted that America's oil production would peak in 1970, 40 years after the peak of U.S. oil discovery.

Peak to peak distance

Peak to peak distance

At the other end of the spectrum, I met this guy.

I learnt many things here.

Mass production?

North American discovery of conventional gas peaked in the 1950s, and production peaked in the early 70s.

7645 Sparrow Peak.

Selected Peak

May I offer you a peak freen?

Gross National Product is not the same as Net National Product.

This carbon powered the Industrial Revolution, it put the Great in Great Britain, and led to Britain's temporary world domination.

Life was very small for most people.

GDP says look, if it was produced inside the country, we don't care who it's been produced by.

List of all Peaks

And I'll just say two things about this.

No peeking.

And then on the horizontal axis quantity, produced.

Why didn't they put it into production?

which I find is somewhat ironic.

The morning rush is at its peak now.

A real stinker.

Now let's say I can take this 20 thread and I'll stay with white I can take this 20 thread and I could throw in some more labor

But that's not how much income we made, because there was a

We've got to reveal the dangers in the product.

And as an economist, we can also look at that side of the story. These are people who are productive agents in the economy.

Just smart people moving bits. Different rules.

2006 was a great year.

The arrows indicate peak gray matter volume in prefrontal cortex.

Peak fitting and data analysis

And to understand it, let's think about how jeans might be produced.

They had their entire lives ahead of them birthdays, graduations, weddings, kids of their own.

What's the most important things you need to do for the business to make the business model work.

Or, another way to think about it is the cost of production.