I'm old enough to remember the '78 shortage, and I remember reading in National Geographic that world oil reserves would be exhausted by the year 2000. Well, here we are.
I remember that when I was a kid, they said that the Mets would never win the World Series.
You can't assume that just because folks were right (or wrong) before, they will be right (or wrong) this time.
In fact, where what you think has an impact on consumption and investment, it's very likely that what you think will turn out to be wrong.