Peak oil was about conventional oil. Had we not discovered other sources and methods for extraction then we likely would have run out. And running out isn’t accurate, it’s just that oil becomes harder to extract and thus too expensive for regular uses.

There are many things that were predicted as a collapse factor that we then innovated solutions to break past those barriers. We’re too smart for our own good, because each time we find new ways to keep going we make things worse and get ourselves even more into a dead end. When we do “run out” of oil of any type, which will happen at the growing rate we use it up, will we be smart again and find replacements for all the things petroleum is used for (not just fuel)? One important one being fertilizer to make food grow in our otherwise barren soils. Fun fact: people need to eat to live. Most people in the world, especially the western world, exists and survive because of food thanks to oil.

Lastly, we would have done so much better post-collapse if things had happened naturally with a smaller population and less damage to the environment. The higher you fall, the more it will hurt, and we’re damn high now compared to the mid/late 20th century.