[dinopello]

Well, I think Tex said it in some other thread, but $400 this year would be a good thing. It would keep attention focused on this. And, even more interesting (not sure good) that it is a presidential election year. I just don't think it is the most likely.

[bodigami]

$this->bbcode_second_pass_quote('TWilliam', '(')...)
If the trend continues ('hockey-stick', anyone?), then it is likely that 2008 will be a decidedly UN-merry Xmas for a LOT of people...

[PenultimateManStanding]

just a little mathematical correction: the progression 30, 60, 120, 240, etc is not parabolic. My mistake, it is exponential which is far worse than parabolic. And the use of the term hyperbolic is a misnomer since a hyperbolic function decreases: y = 1/x , i.e. if x is time and y is the price of oil, then the price decreases asymptotically with time. Hyperbole and hyperbolic in the mathematical sense are completely different.

btw, looks like some profit taking going on in the oil market today. I'm guessing, though, that by the end of today the price will be back near yesterday's close.