"Peak oil" simply means the year when the maximum amount of oil is extracted; the implication is (was) that if demand > supply when this happened, this would ca

"Peak oil" simply means the year when the maximum amount of oil is extracted; the implication is (was) that if demand > supply when this happened, this would cause a spike in prices. As it happens, it's pretty likely we did hit peak oil in 2019, before COVID reshuffled everything and oil prices hit historic lows in 2020. Same for "peak CO2": energy consumption is growing and will continue to do so, but if we're swapping out coal and gas for solar and wind, the amount of CO2 generated can still decline overall.