On the other hand, oil is a finite natural resource that has been pumped out of the ground for decades at an increasing rate. Only severely retarded politicians don't believe in peak oil or believe that oil is an infinite resource (they also believe in ghosts, so there). Thanks to China, India, and other countries deciding they want some basic level of civilization, the rate of increase in the rate of increase of demand means oil supplies and proven reserves are going down fast. That means there might not be a price crash and in a few years we will look at $6/gallon for gasoline as the good ole days.
It is typically very hard to accept that these things can have a big effect, but that doesn't mean they won't (nor, of course, that they must, but the odds are better that they will). The price of oil will be as "immaterial" within 50 years as the prices of horses or gas lamps were immaterial in 1940 compared to 1890.
I can't cite any great insights here, but I've tended to notice that when everyone jumps on the bandwagon of saying something bad is going to happen, some price is going to rise forever, or the like, the opposite tends to occur within a certain timeframe. It's now happening with property prices (and I remember the bulls just one year ago..) and it'll happen with oil. Same happens with memory prices too.