Peak Oil Panic? Why We Never Run Out of Energy (But Still Need to Worry)

Since the 1950s, experts have warned that the world’s oil wells would soon run dry. Yet, each decade brings new discoveries, unconventional sources, and technological leaps. Shale oil, tar sands, and deepwater fields have repeatedly pushed back the peak. When prices spike, markets adapt: efficiency rises, alternatives emerge, and demand slows. The world has never run out of a major resource—scarcity breeds innovation.

But abundance is not without risk. Cheap, plentiful oil can delay the transition to sustainable energy and worsen climate impacts. The real challenge is not running out, but using what we have wisely, before environmental limits catch up.