Many commodity and investment experts I respect have asserted for quite some time that we have in fact reached an end to easy oil deposits in the world, even though there are many places that haven't even been explored that carefully to be able to make that assumption and assertion.
The most recent and obvious case in point is the discovery of the giant shale oil reserves in the Arckaringa Basin in Australia.
Yet even in Australia it's highly likely there are more huge oil deposits to be discovered, which would boost the idea that we have a ways to go yet before peak oil is based upon any semblance of reality.
Even when other large shale oil discoveries were made in North America, peak oil adherents refused to acknowledge that there could be a lot more oil available than we know of in the world.
Of course most are coming from the point of view of geopolitical concerns, meaning some governments and parts of the world - including America - refuse to allow energy companies to explore off their coasts in inland.
In the northeastern part of the United States, even after huge oil and gas deposits were found, they are trying to keep companies from extracting it and selling it to the world.
The other major factor is the religious belief in mythological global warming issue, which is a total lie, as the world hasn't warmed for well over a decade, and the true believers have had to change the name to "climate change" in an attempt to silence those who have exposed the lie for what it is.
After all, when the term climate change is used it's impossible to refute because in fact the climate has always been changing, and it has nothing to do with fossil fuels whatsoever, as past long-term weather cycles have proven.
This is why the term peak oil continues to be used by some who assert no significant deposits of oil have been discovered recently, even after the numerous shale oil and gas deposits were found.
Some of done this through habit and assumptions, while others have willfully and willingly perpetuated the peak oil myth.
After the Arckaringa Basin discovery and estimates of oil in it, there can no longer be an excuse for the peak oil assumption, as it has, for now, been laid to rest. I personally believe we're only at the beginning of more major oil discoveries, which will change the world for decades; not only in energy provision, but in the geopolitical realm as well.