Well, the first one assumed that almost all oil suddenly disappeared, there
were no industrial grade methods of producing it from coal, and no alternative
propulsion methods were available, all at the same time. Which is silly, if
one thinks about it, but still good enough to establish a background story.
Seneca Curve / Cliff is the concept that the higher the technology level, the more horizontal the growth curve and the more vertical the decline curve. The decline rate of frack'd well is pretty staggering. I'd have to look it up to be sure but I'm pretty sure we've passed the point where the majority of wells that have been frack'd are now no longer producing. Same story with horizontal drilling decades ago etc. If we're not at the technology level today where the decline rate could be extremely sharp, we're certainly working toward it via ever higher technology in that field.
dozzie|9 years ago
VLM|9 years ago
jabl|9 years ago
Umm, yeah.