I have heard several angles on this topic lately (from and economic side)....
1 that opec is not increasing supply because they cant... they are at full production..
2 I heard we could easily go to 3 or 400 a barrel in the next few years..
3 and lastly i have heard that even though china and india are huge markets, US and even world demand is down a bit and the current costs are all speculative and unjustified ($119 barrel.

All i know is i am glad i dont have to drive to far for work, live near the beach and my passion involves wind....
How bout those poor golfers and their polyester pants!