King Hubbard said this in the 1970’s

https://youtu.be/ImV1voi41YY

Everyone who follows oil knows that we are past the peak. I wrote an essay in the 1990’s about the role of semiconductors in keeping us from feeling the pain -yet!

Improved computational power doubled the likelihood of finding oil in and newly drilled well AND better control over drill bits for horizontal drilling(, etc) meant that more oil was extracted from each hole.

But Hubbard’s essential thesis has remained intact. The last big oil discovery in the world was Prudoe Bay.
All the big discoveries since have been natural gas.