Further, the price of oil will directly impact the price of electricity.
The price of oil will drive demand for coal and gas, increasing demand for them, as we start winding down our oil supplies.
Once again, the physical impossibility of increasing coal/gas production by some % every year will rear its ugly head.
Let's assume that present and future predicted reserves of say, gas, will last for 100 years at current production rates.
Then assume that production goes up by 3% per year.
That 100 years gets cut to 46, and at year 47 production goes to ZERO.
This is simplifying it a bit, but it does show how assuming things in the future will be the same as in the past can bite one in the ass, if one does not pay attention to the math.