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Originally Posted by Taylor95
Exactly. I suspect that supply won't be a problem in the foreseeable future once technology makes it possible to harvest crude from other sources. What we have now is OPEC trying to drive prices up to have a better profit margin...
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Actually OPEC has worked to drive oil price down since they are the only producers who can make money at $50 oil. USA fracked oil is bilking their investors and running at a slight loss at that price. Any region that hurries to squeeze out it's remaining oil now is a fool. 30 years from now any remaining oil will be invaluable for mining, farming, and construction. It will be a miracle aquisition of sapience if humans can avert World War III during the comming collapse and reorganization.
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What time frame do you foresee as the future? 20-30 years? What are "they" going to do 100 years from now when natural gas is also gone? 1,000years? How long do you think it takes to replace all infrastructure for 8 billion people to live without oil which gives us 35% of primary energy. How do we build these new energy sources and replacement infrastructure and electrification without affordable liquid fuel for our big machines if we continue to squander it in 20 mpg SUV's until it is too late to change?