Probably because it never arrived.

For decades, we heard about it incessantly. Oil was running low, soon to run out. It was urgent, therefore, that we use less – that we be forced to use less, as by federal fuel economy standards that pushed most large (and large-engined) cars off the roads by the mid-1980s and – for some 20 years, beginning in the '70s – enforcement of the 55 MPH National Maximum Speed Limit, originally justified as a "fuel saving" rather than a "safety" measure.

And then we stopped hearing about "peak oil" altogether – and began hearing about something else.

The former happened when it became as embarrassing – in view of the contrary facts – to continue asserting that we were getting close to running out of oil as it is to continue asserting that "masks work."

More oil was discovered.

And then more, again. So much oil came to light that gasoline – distilled from oil – became cheaper in inflation adjusted costs than it had been before the ululating began about how soon we were going to run out of oil.

In 1966, a gallon of gas cost about 30-33 cents. It cost about the same – adjusted for the devaluation of the buying power of money – in 2017.

Less, actually, when you take into account the cost of myriad federal regs that oil companies/refineries must comply with today that were nonexistent back in 1966. Take them out of the equation and we would probably have been paying about $1.50 (possibly a lot less) for a gallon of gas by the early Orange Man Era.