I (personally) don't see oil prices going that high that quickly unless the Federal Reserve decides to continue cutting rates and rapidly devalues the dollar. I do think that it is possible that we will see 10% to 20% inflation in the price of energy commodities because of several governments actions of taxing oil companies' profits and (therefore) discouraging further exploration; on top of this the introduction of carbon taxes and the implementation of cap-n-trade markets will (dramatically) increase the cost of energy because they were designed to do that to reduce energy consumption.
Now, I'm going to be considered a dink for saying this but "Depressions" are almost a karmic-force which returns balance to the system; people who have not managed their finances well tend to have a very rough time of it, while people who have managed their finances well see the introduction of all sorts of opportunities.
