OIL - The Key Indicator to an Imminent Global Recession

Everything is linked to the price of oil. Our food, our phones, our computers, our clean water, our electricity, everything we use each day is dependant on oil.
If oil prices were to pump due to a new peak (which is inevitable), the price of everything will climb. As a result, it will reach a point where we can't afford to consume the same amount of things, slowing down our industrial activity.
2008 was a crisis, meaning our governments managed to fix the issue on the short term. However, during that period, food industries were struggling, and famines happened in several countries. To solve this problem, they had no other choice than shutting down the price of oil to restart the machine.
In 2014, thanks to our advanced technique of extraction, global production exceeded demand, and the price fell by itself.
However cheap oil is becoming rarer and demand is not decreasing. We will see price climbing slowly at first, and like an exponential curve, will be able to very quickly climb up to new highs, and who knows what will happen then? How long are we going to be able to answer the demand that seems to be in a no-limit growth?

Comment:

This said, markets will not be an indicator to the end of oil. Prices won't climb slowly until it's too expensive to use, as Hotelling says. If Hotelling's theory was correct, then oil price would already be on the roof. The question of "giving up" oil is extremely complex and delicate. Yes,as a fossil resource, it will become rarer. But there are still people believing the demand might drop. And those people are the majority. The day the peak comes, the day technical progress reaches its limits, if the economy has not found an alternative, companies will simply be faced with a fait accompli but they will not have received any warning from the market.