So this might be an unpopular thought, and in no way shape or form, is this the WHY. But if we had say 200 years worth of oil, and the Saudis/Venezuela had 200 years worth, would it make sense that we pay X now and burn through a ton of their natural resources the next 200 years and then when a majority of theirs is gone, we would still have a 200 year supply(possibly more at that point) and we would then be able to demand more for it since the main suppliers would be nearly tapped out. Or is that too simple minded?

Yes I am aware that oil has been stated to be renewing itself. But I am basing it off the assumption that we're using it faster than it can be replaced and that eventually we would run out