Federal Reserve Bank of Atlanta Economic Review: The Peak Oil Debate

For the past half-century, a debate has raged over when

The lack of a common definitional framework also confuses the debate. The
author provides definitions of frequently used terms, delineating types of reserves
and conventional versus nonconventional resources. She also discusses how technological
innovations, government policies, and prices influence oil production.

Regardless of the exact timing of peak oil production, the world must address
the challenge of adapting to a new model of energy supply. Perhaps the world
would be better served, the author notes, if the peak oil debate could be more
solution-oriented, focusing on discovering the best way to transition to a world with
less conventional oil rather than locking horns about discrepancies in terminology.

Federal Reserve Bank of Atlanta [PDF]