For now. All it takes is one hurricane through the gulf and prices will skyrocket. This is temporary. Just wait until they got a hurricane aimed right for the heart of the gulf and watch prices jump $10-$15.

In fact, one's in their right now.

I don't like to toot my own horn... but I was so right, oil is now half of what it was when I wrote it

"What will happen? Well I guess the best way to put it is what goes up must come down. Eventually something will pop this bubble in oil prices and just like the housing market recently, the DotCom bust of the late 90's, or the Stock Market of the Roaring 20's it will all come crashing down leaving many investors with oil they will not be able to sell for even near what they paid for it. Usually it takes something to change the investors from their mode of greed into fear (when they all begin selling instead of buying)."

Oil was artifially high, at the time I did not know what would pop the bubble, we saw it sagging though august, but it appear the Crisis it what finally popped the bubble, I see oil settling at 50-60 dollars a barrel, right where it should be.