in a couple generations time, when world run out of oil, then our future generations will look back and frown at how wasteful we were consuming oil @ US$40/barrel.
because we consume oil like crazy @ US$40/barrel, our future generations have to consume oil @ US$200/barrel when oil runs out???? Remember, oil is a limited resource, not like palm oil, coconut oil, soya oil. Once all oil mined..... no more!
One possible scenario is that cheap oil provide a bridge from now until new technology matures. US and China is collaborating on Liquid Fluoride Thorium Reactor. They should be ready by 2030. The world will then have almost unlimited supply of energy
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Scientific American The Age of Cheap Oil and Natural Gas Is Just Beginning By Marian Radetzki on May 3, 2016 http://blogs.scientificamerican.com/guest-blog/the-age-of-cheap-oil-and-natural-gas-is-just-beginning/