Demand is going to start outstripping supply soon enough, and prices are going to skyrocket. The only reason prices are going down right now is due to the falling cost of oil, and that’s only due to the overall selling attitude in the market right now. Once inflation sinks in and supply starts running low, the price of oil will be launched into the stratosphere and gas will follow suit.
Once that happens you will see how much it really costs to be entirely dependent on oil as both a source of energy and a source of goods.
The real problem in a year or two won’t actually be the cost of oil, but the lack of supply. So many countries have such an exponential growth of oil consumption that even countries that supply us with a large percentage of our foreign oil are starting to get close to the point where their supplies won’t even cover their own demands.
What happens when the countries who supply the majority of our oil to us are no longer able to afford to export their oil?