The term you want is EROEI. Energy return on energy invested. It has been dropping consistently for decades, in the case of oil. Price does not necessarily ref

The term you want is EROEI. Energy return on energy invested. It has been dropping consistently for decades, in the case of oil. Price does not necessarily reflect cost to extract, because it also depends on market demand. Read "The Underground Economist". But yes, it is getting more expensive to extract, and yes there is a tremendous shift away from oil as an energy source taking place right now. Crude oil production peaked around 2005 and will be continuing to fall from here out.