Anyone Got a Bike For Sale?

Oil recently hit an all-time high of nearly $120 a barrel, more than double its early 2007 price of about $50 a barrel. It closed Friday at $118.52.

The forecasts calling for a jump to between $7 and $10 a gallon are based on the view that the price of crude is on its way to $200 in two to three years. . .

[Mr. Gaines] latest prediction of $200 oil is open to question, since it would undoubtedly create considerable global economic distress. Further, just about every energy expert I talk to cautions me to expect a sizable pullback in oil prices, maybe to between $50 and $70 a barrel, especially if there's a global economic slowdown.

While Mr. Gaines thinks there could be a temporary decline in the oil price, he's convinced an overall uptrend is unstoppable. In fact, he thinks his $200 forecast could be conservative, and that perhaps $250 could be reached. His reasoning: a combination of shrinking supply and increasing demand, especially from China, India, and America. (Full Story from NewYorkSun)

I drive a fuel efficient car, but if prices go that high it doesn't matter what you drive. Think about it - it would cost me $90.00 to fill up the tank of my Civic. Oh yeah, you might want to think about investing in one of those locking gas caps. I have a feeling, if prices keep climbing, people will get brave enough to start siphoning out of other people's cars.

Man. The extended family just got a lot further away.