Great article Sharky. Did you read the comments? There are over 100 and climbing, some very interesting, about commodities and oil bubbles.

I can see your point about not getting carried away, but in my opinion there are many underlying supply and growth issues supporting high oil prices, also the fall of the dollar causing oil to seem higher than it is.

If I'm reading Connacher's latest presentation correctly -- slide 25 of the May 2008 -- they're basing estimates on GLJ forecasts which appear to me to be $92 US per barrel WTI. I may be misinterpreting, but they seem to be approaching conservatively. Hopefully these swings -- speculative or otherwise -- won't impact SP as much as the company's performance.