"About 15 to 20 years back, there was a concern that the oil supply was going to peak. We're going to run out of oil. Now, the concern is somewhat different; it's about peak extraction, or the point at which it becomes uneconomical to extract remaining oil due to a transition to renewables."
"M. King Hubbert predicted in 1956 that global crude oil production would peak around the year 2000. While his forecast partly materialized, advancements in technology such as fracking have enabled production to reach record levels, altering the narrative around 'peak oil.'"
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