Which brings us to the Export Land Model (ELM). The basic thesis expressed by students of the ELM is that, to fully appreciate the impact of peak oil, you cannot look only at the production declines so presciently anticipated by ML Hubbard in 1956. You also have to look at the rate of local consumption and the importance of that consumption on the ability of a country to export their oil.Read more about the crucial topic of ELM, here.
Friday, June 13, 2008
Export Land Model...
...yeah, that sounds like a somewhat fancy technical term but, its also a very important piece to the Peak Oil puzzle. This article explains why: