Powayseller said “I believe oil is in dwindling supply, and the only big source is the oil shale.”
When the “real” oil shortage (the one where the global supply is truly dwindling and the cost of extraction pushes prices up) happens, you will see the price of oil go up with respect to gold, the supply of which is relatively constant.
This link suggests that political situations and a devaluating dollare are the cause of todays high oil prices, not a shortage in oil.
