We're already there. Gasoline in the US is 3.5-4x higher at the pump than it was 15 years ago.
And look at what's happened -- a new wave of natural gas exploration, expansion of alternate technologies like solar, smaller cars, and real life practical electric cars.
The fact that the tar sands are being exploited at all is an indication that the industry believes that prices will stay at least at current levels for many years to come.
Gasoline 15 years ago was way under expected price based only on the estimates of inflation. It goes up, it goes down. There've been times Cushing, Ok was full and gas was way up.
And look at what's happened -- a new wave of natural gas exploration, expansion of alternate technologies like solar, smaller cars, and real life practical electric cars.
The fact that the tar sands are being exploited at all is an indication that the industry believes that prices will stay at least at current levels for many years to come.