There is a very specific type of person that works in the oil industry in texas , they buy the biggest most expensive gas guzzling truck, they work too many hours, drink heavily and often do hard drugs , and they overleverage themselves to the max always , when the economy takes a shit they lose everything and end up broken and pissed off. Then the oil bust works its way through the rest of the texas economy and its like the great depression. I grew up as kid through the 80s depression in texas and it was rough shit. I dont know how people would handle it these days. Ive seen mini busts along the way when this or that oil patch taps out and the people in the area just lose everything. As a kid i remember being around gaunt adults that were slowly starving with no jobs paying above minimum wage and those even nearly impossible to get. Texas isnt known for its compassion for poor people.

I think if the world decided it necessary they could probably manage to get venezuela oil pumping again and that would give the world another stretch of plateau. wouldnt be surprised if that 2018 peak was the real deal final peak though.

These slides belong to the https://www.thegreatsimplification.com/episode/101-art-berman podcast.

Notice this is by volume, and very light crude. Issues like lack of heavier crude for diesel and bunker fuel, per capita energy and especially per capita net energy are out of scope of this podcast.