As prices go up, other oil options like shale oil become profitable.

There is enough shale oil in Oz alone to fuel the whole world for many decades.

(Mind you it's not exactly environmentally friendly to extract)

Put yourself in the oil baron's shoes… if cheap oil was genuinely running low, what better way to increase your fortune even more than by raising concern about it running out and therefor pushing prices up through the roof?

And if it isn't running out, what better way to increase your fortune even more than by raising concern about it running out and therefor pushing prices up through the roof?

Change your filters and buy as little as possible.