When our mom was still alive, she told us that in her youth, they said that the human race would run out of oil in.........1936.
Yes.
One of my dear professors (when colleges used to educate, not indoctrinate), put it nicely.
“For the last 100+, humanity had always ~20 years of oil left.
Why?
Because it does not pay to look for oil past 20 years into the future!”