The speculative froth of summer 2008 aside, the average cost of oil is not skyrocketing (http://www.eia.doe.gov/emeu/steo/pub/fsheets/real_prices.html http://ww

The speculative froth of summer 2008 aside, the average cost of oil is not skyrocketing (http://www.eia.doe.gov/emeu/steo/pub/fsheets/real_prices.html http://www.eia.doe.gov/emeu/steo/pub/fsheets/real_prices.htm... and http://inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm http://inflationdata.com/inflation/images/charts/Oil/Inflati...). Of course, this may be because people haven't yet realized that Peak Oil has happened and a massive correction is imminent. And even though no more dinosaur juice is being made (nobody seems to think the abiogenic theory is worth anything) we certainly could have the use of more oil: if the right Fischer Tropsch catalyst is found and/or if we figure out how to drill deeper and/or get more out of the existing fields.