Anyone who is smart better be hedging on what happens when oil hits fifty. I think it is going to be there by Friday. It is a psychological ppoint that says $60 and up oil is a possibilty, something unthinkable a couple of weeks ago. In addition, when one compares the price of oil historically, it is currently cheap. It has not truly started to reflect basic supply and demand pressures until now - we are moving into a new age where we will be in bidding wars squeezed between two economies with have essentially given our national wealth to, the Saudis and the ChinoJapenese economy. We, ladies and gentlemen, are about to become their *****.

http://biz.yahoo.com/rb/040803/markets_oil_6.html