Quote from richrf:
3) Fuel efficiencies will bring back U.S. oil usage to 1990 levels. SUVs are gone from the highways. Greater reliance on small cars, and more efficient energy use will keep prices relatively low for the time being.
Quote from Smart Money:
Plot both of them over the long term adjusted to inflation and you'll quickly see that (with the exception of the lunacy of the last year or so) the very long term trend shows the stocks moving up, and the commodity staying flat.
One important point to discuss here is technology improvements and environmental conscience.
We certainly know Middle-East oil is going to end up and reserves will not meet for more than a few decades so the current concern about it has taken those Fuel efficiencies to different products
I'd say oil will remain with low prices or at least stables