The talk is that oil could go through another rise in price soon. The Observer reported on the opinion from the commodities editor of the economist intelligence unit that oil could hit $90. But on the CNN site, the predictions were even worse. According to Bill Browder, who manages the Moscow based Hermitage fund, which has seen 1780% growth in ten years, oil could hit $262 a barrel. Mind you that would require a series of global oil shocks. In a more realistic scenario, in which Iran declares an oil embargo, Mr Browder predicts oil jumping to $131.

But, at the other end of the scale, Tim Cejka, president of Exxon Mobil Exploration Company, recently told Reuters: “We primarily don’t believe the price will stay this high. The oil business is cyclic … Our expectations are that prices will drop.”