You don’t take into account new oil field discoveries, new methods of extraction and rising efficiency of use.
Production will always meet or exceed demand if government stays out of the way.
The only reason that the price of oil products is high is government interference in the market place.
Well OK. The biggest oil field ever found in N America was Prudhoe Bay. That was over 50 years ago. Have we found another one. To grow at the rate we have been on, for the next 50 years we will need 7 more Prudhoe Bays. Where are they?