Oil prices this year

We worry about future oil prices and we do well. I foresee major problems ahead as we run out of cheap hydrocarbons. The always colorful Texas oilman and billionaire investor T Boone Pickens said "I think oil in 2007 will average around $70 a barrel. You've just about reached peak production for the world, and demand continues to go up."

Well, how about oil hitting one hundred? I predict major oil supply disruptions this year. The middle east is very volatile and things look like they will get hotter. Texas tycoon T Boone Pickens has no idea how hot. If only he could anticipate what will soon happen, he would invest in oil futures.

Perhaps if he had a time machine and did time travel to the future he would see what happens to petroleum production in the Persian Gulf in the next few months. I can tell you that the US has sent a second carrier group to the area. Things are going to get hot!