oil

Oil could get to be at $200 a barrel: that is the warning from Goldman Sachs.

Well the issues here are much larger than demand and supply of a finite source.

The point to be asked is if Oil is a finite source, why is its control in the hands of a few. Rather if everybody here on earth requires oil why is it that in time with the depletion of the source fewer countries would be in a position to access oil.

Also with a few suppliers, surplus generated from a finite source are filling coffers of the few, how have these suppliers accounted for the fact that the resource is depleting.
They probably have, but then they are not going to let us know on alternates till the present oil source has depleted.

We are being conned by the few to pay higher prices.
But then that is business.

Business and capitalism is not about equitable distribution, business profits are on account of disparate distribution. The disparity that exists in the ability of a few to buy and the many who can't is what skews economies to get richer.

Rich economies get richer and can afford the higher oil prices. Simply because they got to an ability to afford this price increases quicker. Oil production should be equitably distributed to all for a level playing field, also on account of the fact that a finite resource is the resource of all and not the resource of the few to do what they will.

I also feel, if oil would have been in the hands of many, alternate materials or technologies that can substitute oil would have been available faster.
Just like software, level playing the field fosters greater innovations and lower costs directly or indirectly.

The actual price of oil should be much higher.
But since production is limited to a few, oil prices are reflecting supply and demand functions. In effect what it should also account for is the cost of utilizing a finite resource.

Such a cost is indeed high in the absence of an alternate technology or material.

But then the converse is that the lower price would mean there is an alternate technology, but we will be conned till oil sources last.