Reply #14: One other factor to consider:

[phantom power]

there has already been demand destruction in poorer countries. The price of oil went up to $60/barrel, and that was enough to price-out poorer nations. They're buying less oil, which temporarily stabilized demand for us richer nations. We can still pay that price. As the Big Four continue to collapse, I would expect even the richer nations to start feeling the shortages within a year or two. Then you will get your $100/barrel oil.