Many different oil shock model scenarios have been presented over time at Peak Oil Barrel. Information on the Oil Shock Model, originally developed by Paul Pukite can be found in Mathematical Geoenergy . The future is unknown, so future extraction rates from conventional (excludes tight oil and extra heavy oil) oil producing reserves are unknown. Also not known are future oil prices which will affect the amount of tight oil and extra heavy oil that is ultimately produced. For tight oil I have created three scenarios corresponding to a low, medium and high oil price scenario. Likewise I have created three scenarios for extra heavy oil which correspond to the same low to high price scenarios used for the tight oil scenarios. The mean estimates by the United States Geological Survey (USGS) for technically recoverable resources in tight oil plays combined with reasonable economic assumptions and data gathered from […]