For some context and analysis, see
http://www.nytimes.com/2008/05/12/op...hp&oref=slogin
It is my view that the price of oil is where its at because those who have the most oil are realizing that their oil is much more valuable in the ground than being sold at fire sale prices to the US which will simple burn it as if burning hundred dollar bills.
So, what's your view?