Oil will go up. We will continue to use and pay for it until there is no more OR other technology is more efficient. "Green" tech has a long way to go to catch up with oil. Check back with me in ten years and you will see right I was.
No argument we will keep using oil for decades. But, if the latest glut of oil has shown us one thing it's that over-supply or under demand is key to it's pricing.
Green tech doesn't have to replace oil anytime soon to keep prices down. All it has to do is erode demand enough to keep us in an oversupply situation.
Also keep in mind that the Paris accord means all the western countries will be taxing or capping carbon one way or another which will drive up the cost and keep a lid on demand.
The Saudis hoped to crush the marginal oil producers by lowering the price, but just like use of antibiotics or pesticides the result has been to teach the marginal producers who survived how to keep pumping at very low $$/barrel.
As long as we are in an over-supply situation anyone who wants to make a decent amount of money needs to produce and sell a high volume of oil which exacerbates the problem.
There are a few of the main oil producers with enough cash reserves to lower production for a significant amount of time to reign in the supply problem, but there are also many who are cash strapped and will have to keep pumping no matter what.
Living in Canada life would be better with $90/barrel oil, but I suspect the over-supply issue is not going away anytime soon if ever.