Demand is increasing. Supplies aren’t. I won’t be betting on Oil-Bubble bursting any time soon.
Unfortunately, I agree with you. However, recession with inflation is NOT necessarily bad if it forces the government to address the deficits, the low dollar, drill for oil, and so on.
I partially agree, but China and India are less likely to handle the increase in cost than we are. It will slice their demand, as well as other 3rd world countries. Prices will come down then, but not way down, and not for the long term.