I think that there’s going to be an equilibrium for a long time. The less oil we use, the cheaper it will become and we will probably just be using the cheapest

I think that there’s going to be an equilibrium for a long time. The less oil we use, the cheaper it will become and we will probably just be using the cheapest and most accessible oil fields. Or, if history and the Malthusian fallacy is any indication, increasingly advanced technology for cheap oil extraction will always put prices in equilibrium, regardless of the demand for oil and the cost of extraction.