[lexusppd]

It's a bubble. Like all bubbles, real estate, tech, you name it, it will end badly for the poor suckers in last. In time, and I have no crystal ball, the crash will be upon us. There will be no warning and it won't happen in a day but will begin slowly on a bit of negative news for traders. When the pros, who know more about trading and what to look for in getting in or out, do not buy on the dip, the slide will continue and then begin to accelerate. Soon enough people will be looking to get out of their contracts that there will be an imbalance which the market makers will be unable to easily control. Finally we get to the “get me out and I don't give a sh*t what the price is” time and the blood will run in the streets (or the trading pits).

Oil will again be where it belongs today, at about $55-60bbl

[VideoDoctor]

It's a bubble.

You're right. It's just another cycle in the eternal chase of the almighty dollar.

[IronJack]

Oil will again be where it belongs today, at about $55-60bbl

NEVER going to happen. We will never see $2-a-gallon gasoline again in our lifetimes.

[RayChuang88]

In fact, there are signs that the current US$130 price is WAY too high, and because demand is starting to drop. If the price stays this way we could see a price crash very soon because at the current price, oil has started to become an elastic (consumer sensitive to price) item.