Doubt it. Renewables are expanding much faster than oil output is decreasing. Wind and solar will enable energy to remain cheap everywhere that builds it.

There will be very dramatic growing pains with this switch, especially for A: nations manufacturing renewables but still running that manufacturing on oil and B: nations that face political and economic barriers for renewables.

Also C: nations that are both A and B, needlessly causing oil volatility with unplanned military dickheadedness.

Malthusians has been sounding the alarm for longer than Protestant revivalists have been claiming the end of world is next month at lunchtime. If there is a predication market for such things, betting on any Malthusian is patently foolish.

(Of course, I don't disagree with the notion that consumerism produces an extraordinary amount of worthless trash, but that's a different matter. The main problem with consumerism is consumerism itself as a spiritual disease; the material devastation is a consequence of that.)

Renewables provide electricity only, but planes, boats, trucks, basically all the supply chain, works with oil only for the moment. The ease of use of oil has not been replaced yet. Do you realize how easy it is to handle oil ? You can just put it in a barrel and ship it anywhere in that barrel. No need for wires or complex batteries like for electricity, nor complex pipelines like for gas.

And even if we figured out how to electrify everything (which we didn't as I just said), we would still run into resources shortages for batteries, wires (copper etc.), nuclear fuel (uranium)...

Hilarious how comments like this consistently get downvoted, theres a lot of special interest lurkers on this forum