[nojvek]

Market value is speculation based on future profits. Sure oil is currently the most energy dense means of portable energy storage in a somewhat affordable manner.

But do keep in mind half of oil goes to fuel cars. Once cars become electric and solar chargers pop up in cities things change considerably.

We only rely on oily and pay absurds amounts of money to Saudi Arabia since we have little choice. Once the alternatives become cheaper, it's better both economically and environmentally to distance away from Saudi oil.

Sure Saudi can make oil cheap as dirt to combat alternatives but then they aren't making as much money. I don't foresee a scenario that in 20 years Saudi oil demand will keep on rising.

Their entire economy is based on natural resources. Not a great place to be.