Incompete analysis.
Oil is energy dense. That is relavant but only half the equation.
The other half is how much energy it takes to get that barrel of oil.
If you use the better part of 9/10ths of a barrel of oil to get it out of the ground, then you have not netted a very large chunk of energy, relative to your investment.
Studies of peak oil, and admissions by the oil giants themselves in their annual reports accede that the "easy" oil is gone.
What is left is increasingly hard to get to.
It is a bit like confusing revenue and net profit. A company might have a hundred billion dollars in revenue, but if it is running a massive loss, it will go out of business.
Same with energy. If you are only considering total energy of a given amount of any source, you are missing the very relevant aspect of efficiency, which is directly associated with monetary cost.
Even then you still need to compare relative efficiencies.
Up until now oil has been, relative to the alternatives, more efficient, by a large factor.
That is changing, and the reduction in Energy Returned On Energy Invested ratio for oil/coal/gas will accelerate.
That is a physical and mathmatical certainty.
(edit)
The last year that humanity in general discovered more oil than it consumed/produced was 1984.