The Hubbert curve closely resembles the shape of, but is different from, the probability density function of the normal distribution. It was originally intended as a model of the rate of petroleum extraction. According to this model, the rate of production of oil is determined by the rate of new oil well discovery; a "Hubbert peak" in the oil extraction rate will thus be followed by a gradual decline of oil production, to nothing.
Note: for detailed discussion of petroleum exhaustion, please see the Hubbert peak article.
Hubbert assumed that after oil reserves are discovered, oil production at first increases approximately exponentially, as wells are drilled and more efficient facilities are installed.
Hubbert applied his theory to "rock containing an abnormally high concentration of a given metal" [82] and reasoned that the peak production for metals such as copper, tin, lead, zinc and others would occur in the time frame of decades and iron in the time frame of two centuries like coal.
Noting that the Hubbertcurve seems to be applicable to any resource that can be harvested much faster than it can be replaced, at least one researcher has attempted to perform Hubbert linearization on fisheries, notably the whaling industry, as well as charting the transparently dependant price of caviar on sturgeon depletion.
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