Do you remember peak oil? It was all the rage a decade ago. Now, almost no one is talking about it. The funny thing is, the problem never went away. If anything, it’s gotten worse. In this post, I take a deep dive into peak oil. I show you that the peak in the production of conventional crude oil isn’t some distant prospect. It’s already happened . What’s more, the model that correctly predicted this peak suggests that conventional oil production is about to collapse. Yes, talk of peak oil went away. But the problem didn’t. Peak oil — A brief history If you use an exhaustible resource, you will eventually run out. This fact is so obvious that everyone understands it … at least in principle. But in practice, humans are shockingly bad at predicting resource exhaustion. Why? The reason, I believe, is that we don’t understand things […]