The prediction was that peak oil (i.e. the maximum rate of oil extraction) would happen in 2000. For conventional oil, this was not far off: production peaked in 2005 and has been in decline since. What the prediction missed is that we would extract shale oil on a large scale. The long-term economic viability of fracking is in doubt, though, since apparently no fracking enterprise has been profitable to date; it's all financed by venture capital.
https://economicsfromthetopdown.com/2020/11/16/peak-oil-neve...