It's hard to extrapolate a trend though - there was a dip caused by COVID, and global oil use has been growing since then, but it's still not back to where it was 4 years ago.
Also a lot of people think peak oil means that we suddenly won't have any gas available. No. Peak oil means all the easily extractable oil is gone, and so all future projects need to use more capital-intensive, technologically-advanced extraction techniques that cost more, and so the price of oil goes up, and then we use less of it while it's replaced by other technologies. Which is exactly what's been happening for the past ~5-15 years. U.S. is back to being the world's top oil producer, but all of it is in shale oil fields that aren't economically viable below ~$50/barrel, and so gas will never go back down to the $1/gallon it was in the 90s.
There are many different definition of 'Peak oil' but anybody that thinks this is all because of technology is just wrong.
The OPEC countries could produce far more oil far cheaper, but they don't want to. There are plenty of oil fields left. Not to mention fighting economic war against Iran and Russia, two huge producers.
https://www.statista.com/statistics/265203/global-oil-produc...
It's hard to extrapolate a trend though - there was a dip caused by COVID, and global oil use has been growing since then, but it's still not back to where it was 4 years ago.
Also a lot of people think peak oil means that we suddenly won't have any gas available. No. Peak oil means all the easily extractable oil is gone, and so all future projects need to use more capital-intensive, technologically-advanced extraction techniques that cost more, and so the price of oil goes up, and then we use less of it while it's replaced by other technologies. Which is exactly what's been happening for the past ~5-15 years. U.S. is back to being the world's top oil producer, but all of it is in shale oil fields that aren't economically viable below ~$50/barrel, and so gas will never go back down to the $1/gallon it was in the 90s.