The 2008 price spike was a pretty good case study. I think it is unlikely the world can sustain above $120-130 for any length of time. It’s when airline-trucking starts going bankrupt, things shipped long distances profit gets eaten up, food riots in the third world and fuel riots in Europe start flaring up. $100-120 is the orange zone and 120 plus is the red zone. We’ll have to shed jobs again if oil gets to high. Consider it the world putting a ceiling on economic growth.
