Shows how everything from the rising price of groceries to the subprime mortgage crisis has been exacerbated by the shrinking supply - and growing price - of oil.

In 2001, Kenneth Deffeyes made a grim prediction: world oil production would reach a peak within the next decade--and there was nothing anyone could do to stop it. Deffeyes's claim echoed the work of geophysicist M. King Hubbert, who in 1956 predicted that U.S. oil production would reach its highest level in the early 1970s. Though roundly criticized by oil experts and economists, Hubbert's prediction came true in 1970.
In this updated edition of "Hubbert's Peak," Deffeyes explains the crisis that few now deny we are headed toward. Using geology and economics, he shows how everything from the rising price of groceries to the subprime mortgage crisis has been exacerbated by the shrinking supply--and growing price--of oil. Although there is no easy solution to these problems, Deffeyes argues that the first step is understanding the trouble that we are in.

"Praise for the previous edition: "This book . . . should be read . . . by all politicians, by all students, no matter what their discipline, and indeed by anyone concerned about their grandchildren's welfare. Reading Hubbert's Peak is the intellectual equivalent of bungee jumping, being simultaneously exhilarating and terrifying.""---R. C. Selley, Geological Magazine