> we expect that demand will tail off before supply does While I agree with your "sound economics" conclusion, I think that tapering demand was not part of the

> we expect that demand will tail off before supply does While I agree with your "sound economics" conclusion, I think that tapering demand was not part of the "peak oil" modeling. The underlying assumptions involve no particular shift to the oil demand curve, whereas with improvements to other energy technologies (renewable energy, but also natural gas) we find that oil demanded per unit output at a fixed oil price appears to decrease with time. (The covid-related demand shock is of course not helping to bolster this curve.)