Oil Warning

If we look at the price of oil today, it seems oil will be around for a long time to come. I believe the world, or at least some parts of the world are running out of oil ! An important place like the north sea will probably be the first of major fields to run dry. This would mean europe will be forced to import oil from other places, allowing for these places to ask a higher price for their oil. When everything gets started, i see prices go skyhigh to 400+ a barrel. The technical view on the charts and EW study in particular supports this claim. Another simple view could be to buy when price is low and sell when price is high, and price is at the lowest points in years.