I have a difficult time buying what you just said.
To begin with, it is becoming more and more difficult to find and drill for Oil as each year goes by. The supply is also being depleted.
Of course, the technology has provided us with methods to keep on exploring and drilling, but the costs have gone up accordingly.
Of course prices fluctuate based on immediate situations, but the overall trend over the last two decades has been a steady increase in value per barrel. That trend will not change.
Hear me now; understand me later.
“To begin with, it is becoming more and more difficult to find and drill for Oil as each year goes by. The supply is also being depleted.”
There’s more oil in the Canadian oil shale up in Alberta than there’s in the whole middle east, and it’s been barely tapped. The trouble is the difficulty of extracting it, but that became economic at $40/barrel. There is pleeeeeenty of oil and carbohydron fuel out there.
Again, factually false. For example just in the last two weeks.
USGS Assesses Bakken Formation to Hold 3 to 4.3 Billion Barrels...25 Times More Than 1995 Estimate
http://www.freerepublic.com/focus/f-news/2000039/posts
It isn't getting the oil that is the problem. The problem is our political class has surrendered to a bunch of well funded hyper activists “eviormental” pressure groups who have a total Luddite view of how the world should work.
In 1963 I got my first transistor radio ... might have been GE, but I can't remember. It cost $29.95.
In a relatively short time, they were down to $4.98 ... and soon disappeared altogether.
My not-so-in-depth observation of the electronics world seems to show that electronics almost always becomes less expensive as time, science and technology advances.
Interesting.
Now, Let's say in 1963 the average annual pay in America was $10,000.
Automobiles, homes, clothing ... everything was based on that kind of income and life went smoothly.
It seems to me that Someone Somewhere decided an orange should cost 3 cents instead of one ... and well ... did all of an entire economy decide that they had to increase their costs because the orange was (arbitrarilly?) increased in cost?
Is all of this a convoluted twist on the "Go back in time and step on a twig that alters all history" science fiction?
I'm obviously too simplistic in my thought processes, but ... I'd guess the barter system of old pretty much kept pace with what a chicken was worth, whether as a token of trade, or as a monetary value ... and if so ... what happened?
You must be management if you been in the feild 35 years and don't know any of this.