Long-term thinking

Everyone agrees that an oil fund would be a good idea, in principle. But an oil fund is something to build over many decades, to leave something for our children and theirs. The occasional fluctuation in price, month to month, is irrelevant. If only we could somehow form some idea of what oil prices are likely to do, long term. How on earth can we know what is going to happen, over decades, to the price of a vital, finite resource for which the modern world thirsts?

Update: as at 10 October 2013,  Brent Crude was trading at just over $111 a barrel. Check the current price here.