Not to many that are in the market agree with that.
Prices are still fluctuating but rising this morning.
http://online.wsj.com/mdc/public/page/2_3028.html?category=Energy&subcategory=Petroleum
Not interested in day to day spikes and valleys. Over the long run, the economy cannot sustain high oil prices. The fundamental supply and demand has been unchanged with minor fluctuations since 2000, yet the prices are double even today with negligible inflation.