For the record the current price of oil is $140.20. Lets see where it goes by the time this thread becomes to large.

When Bush and Channey leave office, they will become immediately eligible for a trail of high treason. Since there are any number of good reasons to hang both of them, and the nation will probably be in a state of economic devastation by then, Congress, the military and the intelligence services might be quite amiable to it to divert the attention of the rampaging masses.
I think it is much more likely that the neo-cons will be frog marched out into the back yard and shot, than it is that they will usurp the entire government.

I don't think it will hit $150 this week. Holding $140 is pretty good.

Only three trading days left for that $150 oil by July 4 prediction by a major broker to come true.

IEA warns of tightening oil supplies
The oil market would remain tight during the next five years as production from non-Opec countries stalls and demand growth remains relatively strong, the western countries’ energy watchdog warned on Tuesday.
The International Energy Agency’s warning is the starkest sign yet that even record oil prices above $140 a barrel have not yet not done enough to balance demand growth from countries such as China with sluggish supply increases.
The IEA said that annual non-Opec growth would slow to 0.5 per cent between 2008 and 2013, against demand growth of 1.6 per cent per year. The mismatch means the world economy would be more reliant on Opec, the oil cartel, and oil prices are likely to remain at record levels, analysts said.
[snip]
The IEA said it believed Saudi Arabia was having bigger problems than the kingdom, the world’s largest exporter, was willing to admit to, despite its national oil company having gone to great lengths last month to reassure energy ministers gathered in Jeddah that, except for Khursaniyah, its capacity editions were running on schedule.
The IEA said: “State company Aramco insists that [Khursaniyah] delays are not symptomatic of likely delays at their other projects. Nonetheless, latest market intelligence leads us to push back our estimates for the Nuayyim increment and for Manifa, by six to nine months compared with the July 2007 forecast.”

OIL CONGRESS: Russia's Oil Output Has Reached Plateau -Dep Min
MADRID (Dow Jones)--Russia's oil production will grow only marginally this year and in the near term, Russia's deputy minister for energy said Tuesday, and has in effect hit a plateau for now.
"No one should expect that Russia's oil production growth will match the one we've witnessed in the past eight years," Anatoly Yanovsky said on the sidelines of the World Petroleum Congress.

Over that period, Russia's annual oil production grew from 360 million metric tons to just above 490 million tons.
"Nothing like that will happen", the official said, adding, that Russia's oil production has hit a plateau which will remain unchanged until new large fields in Eastern Siberia and offshore come upstream.