or to put it another way.
simple overshoot scenario
rabbits on a small island with no predators and rabbits only able to eat grass, and no other grazing animals.
factors involved
number of rabbits
breeding rate of rabbits
area of grass
growth rate of grass
soil fertility replenishment rate from rabbit droppings and other sources
eventually the amount of grass the rabbit population needs to eat per day will exceed the growth rate of the grass across the whole island, or in other words will exceed the carrying capacity of the island.
The rabbits will not be aware of this fact, and will continue to breed like er rabbits, and munching their way through pretty much every blade of grass on the island, and in doing so drastically degrade the grass's growth rate, and therefore the islands carrying capacity until the vast majority of the rabbits on the island starve to death, with the few remaining rabbits just about able to scratch a life from the remnants of the grass and the carrying capacity of the island will remain massively reduced until so many rabbits have died off that the grass has chance to recover... at which point the rabbits will start breeding again and the cycle will probably repeat itself... or the grass land will end up being taken up by ferns or something else that the rabbits can't eat, and the carrying capacity will be permanently degraded.
So even that's not a massively simple scenario, and evolution would probably eventually result in rabbits that produce less offspring dominating until there breeding rate better approximates the growth rate of the grass or some of the rabbits developing a taste for ferns, or learning to kill off the young of their rivals or something.
This is the sort of scenario that can be relatively accurately represented by this graph.
It also definitely can be applied to some extent to significant areas of human activity, such as over fishing of the seas dramatically reducing the number of fish available to reproduce etc. But unlike rabbits we have the ability to take actions other than most of us dying of starvation in reaction to this issue, by switching to other foods, recognising the situation and taking action to conserve fish stocks, fish farms, reducing waste etc.
Oil has made a massive difference and has unquestionably played a major part in enabling the massive growth in human population and the increase in quality of life for most. But it has also resulted in massively wasteful systems of food productions and distribution, energy use in buildings, transport, industry etc etc. Basically we have a far greater array of options at our disposal, and intelligence to enable us to adapt to this scenario than the rabbits do, so the simplistic graph above should maybe act as a warning of what could result from us ignoring the warning signs entirely, but shouldn't be seen as necessarily pre-determining the outcome of the next century.
Without wanting to underplay the dangers of the situation, we as a species have a far greater ability to determine our destiny than the rabbits do.