Window to the Concept of Peak Oil and Policy Implications: Case of Iran

The exhaustibility of fossil energy sources, particularly oil and natural gas, has led to search about when these reservoirs will be depleted or when the maximum extraction from the resources will occur. In this paper, the evolution of the concept of oil peak has been analyzed. The time of Iran's oil peak will be investigated using three scenarios based on King Hubert's theory. Also, other factors such as technology, energy transition, climate change, and the COVID-19 pandemic are examined as complementary topics. The results of this research show Iran's oil peak will occur in the next two to three decades. Concerning concepts such as the transition to renewable energies around the world, Iran's opportunities to make decisions and take actions are very limited. Finally, some policy recommendations based on the various aspects of the oil peak have been discussed in order to better encounter Iran's oil peak.