I broadly agree with you and history shows indeed that oil prices swing indeed a great deal. The low prices of today have often been an important factor in the high prices in the next future.
I think it is always important to keep the basics firmly in mind. Among them is the simple fact that never before was so much oil consumed:
From the Climate Insider.
Puts the economic rise of Asia in an energy perspective. The European decline, yes to a (small) degree through increased efficiency, is almost as stunning. The last graphs are from Energy Trend Insider
Seemingly ever increasing demand for finite ressources will make sure that at some stage we will run out even if technology and capital allocated due to high-enough prices will push the bounderies of 'finite'.
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