Waiting for oil prices to go back up to $100 per barrel? Don't waste your time.

It ain't gonna happen any time soon, according to a new report.

The International Energy Agency said that oil prices will stay substantially bel
ow the highs of the last three years for the foreseeable future.
The IEA's medium-term forecast sees prices averaging $55 per barrel in 2015. The
y should then start to recover but it will take five years for them to get to $7
3.
Supply will grow far more slowly than previously projected, as oil producers sla
sh spending to offset low prices. But producers can't count on rapid demand grow
th either, the IEA said.n October 2011, my colleague Blake Ellis and I traveled
to western North Dakota to report on the accelerating oil boom. A lot has change
d since then.
In oil towns like Williston and Watford City, massive amounts of infrastructure
have been built in just the last three years. Here's a look at some of the bigge
r projects:
People: Populations in once-small towns soared as people from around the country
(and the world) migrated to the area for jobs. Williston Mayor Howard Klug says
that the city of under 15,000 in the 2010 census now has a "serviceable populat
ion of 60,000 to 70,000."
Housing: To keep up with the growing population, thousands of housing units have
been added. According to Williston Economic Development, housing stock, both si
ngle and multi-family, has increased by nearly 60% in three years.