The modern industrial cycle is mainly based on non-renewable mineral resources extracted from the Earth’s crust. After being processed and transformed into commodities, the products of mining become manufactured products which go through the economic system and are then discarded in the form...

The well known “Hubbert curve” assumes that the production curve of a crude oil in a free market economy is “bell shaped” and symmetric. The model was first applied in the 1950s as a way of forecasting the production of crude oil in the US lower 48 states. Today, variants of the model...