No one can reliably predict the future of resources, but this debt trend is very much a cause for concern. For the privilege of destroying civilization as we know it, it’s a race between resource depletion and fiscal recklessness. I’d bet on debt to win.
(Hyperinflation is just a debt crisis in disguise.)
The future of oil prices rising assumes that oil will be the resource of the 21st century. But whale oil used to be the resource… can’t find a quote these days for that product! Reason: humans tend to assume that what is going on now will always go on. And it’s hard to see what’s going to replace it: reality is oil’s replacement is already being worked on…
The real issue with oil isn’t going to be the price, it’s going to be ‘who still wants to buy gasoline once electric cars go mainstream’. I don’t think peak oil means much more than the peak oil demand really. Without demand there is no production regardless of how much is still in the ground.