"There is no economic or historical basis for this. When resources become more scare people begin looking into alternatives or alternate extraction methods." I

"There is no economic or historical basis for this. When resources become more scare people begin looking into alternatives or alternate extraction methods." It seems obvious they're talking about food. I am not sure you're closely looked at hydraulic fracturing. One doesn't simply talk about petroleum production, they talk about the IRR of energy projects. That is a fair proxy for whether it takes more energy to get a hydrocarbon out of the ground than it contains. Yes, they are making more, but early entrants into fracking (Whiting, EQT, Pioneer, et al) have all done very poorly and destroyed a lot of equity value. I think a really good case can be made that fracking is intrinsically a financial phenomenon. Huge upfront capex with assumptions of years of production. The track record of that longer tail production is doing poorly (edit: even with different spacing and refracking) in most geologies. Plus, poor infra outside of the permian means more capex. Lumber has issues too, which will very much be made worse by even a 2 deg C shift. There is a reason that the US and most countries have huge farming subsidies. A country that cannot feed itself is collapses in very short order. You see this all over the middle east and northern Africa where almost every riot in the "Arab Spring" was about agricultural and food concerns. As you can see in adjacent countries, people migrate from conflict zones and put further stress on neighbors. When your life and your childrens' live are on the line, you will respect no human or moral laws to get food. That is what terrifies everyone that sees the climate crisis accelerating and is familiar with the next steps of how it's likely to unfold.