$200 oil anyone... fools only thought oil was going to $200, you will be lucky to see oil at $200 in the next decade. The US economy is going into the worst recession right now, expect oil to fall as far on the downside as it did on the upside meaning all the talking heads calling for $80-$100 should actually mean oil is going to $40-$50 a barrel and gas at the pump under $3.00.
That's funny. Charles Maxwell seems to disagree with you. And before you make a remark on who Charlie Maxwell is, I'd suggest that you do a little research first . . . I think he's got a lot more credibility than any resident ET "paper-trader" such as yourself. http://seekingalpha.com/article/94294-charlie-maxwell-to-barron-s-300-oil-is-inevitable
unless alternatives are found, the amount of oil flowing to Chindia and other developing countries may make $147 a barrel look cheap... people get richer, and they move from bicycles to cars, they buy more manufactured goods, travel more, get larger homes, etc.. India has as many children as the US has people.
Didn't you hear ? The spike was due to the olympics where China went to maximum oil use to reduce the smog and pollution normally caused by coal. They're back to coal now.