You’ll see a lot of money going into research on how to extract that, especially if oil says above $80/barrel which I think it will for a very long time.
And this is my problem with “peak oil theory”. Most of stuff that says we’re near peak only looks at current technology and recovery methods. They don’t consider tar sands, deep ocean drilling, CO2 injection etc etc.
The big up side to 100+/barrel oil is the huge amount of money to be made finding new oil. @$30/barrel no one would invest in figuring out how to extra the oil from the tar sands, or drill deep in the ocean. At $140/barrel they’re pouring money into this research.