That would be a blessing. Oil is an industry with extremely few employees, and the brake shoe of the global economy. It's a license to print money, a scam. It could be completely replaced by renewables in a matter of years, and unemployment wiped out. The new jobs and investments wouldn't necessarily mean higher prices, let alone in the long run. Speculation at the future exchanges and profits about double the price of oil that supply and demand require, government subsidies add a further premium. They are currently at 7 times the amount of subsidies for renewable energies, globally. Taxes add more costs for the consumer, in extreme cases in Europe doubling the price again.