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This document summarizes a laboratory experiment modeling oil production: 1. The experiment models US and world crude oil production using a logistic model, with carrying capacities of 200 billion barrels and 300 billion barrels for the US, and 2.1 trillion barrels and 3 trillion barrels for the world. 2. The logistic model is fitted to historical US and world oil production data from 1920-1924 to 2005-2008 to determine growth rates and predict when production will reach its maximum rate. 3. The effect

Author

blessa

Language

EN