The argument is that in order to extract oil, you need to spend energy, and, logically, the most easier oil to extract is extracted first.
That means that oil extraction is every year more expensive (energetically not financially). Because technology can make extraction more efficient but not indefinitely, at some point, in order to extract oil, it will be necessary to spend the same energy than burning it creates.
I suppose we could say that it's kind of an inversion of what's going on with fusion research.
Some commenters say that we already pass that point and that's the reason oil companies CaPex have fall in the last years.
I don't know if that's the case, but I can't avoid to ask myself about solar.
Is the energy that a solar panel generate in its life enough for its normal use, plus extracting the minerals that it's made of, plus push the panel, through the ocean all the way from China? or are we fooling ourselves using oil for all that?
I would like to see some numbers and expert discussion about that.