I really respect henry Groppe for his ability to call the oil market

http://www.financialpost.com/news-sectors/energy/story.html?id=2418023

Groppe, who started forecasting prices in 1955, predicted that by the end of 2009, the price of oil would be US$80 a barrel, or about twice its price at the time. Then, US$80 per barrel was hardly the conventional view. Indeed, one prominent U.S. investment bank had a US$25-a-barrel target while economists at some Canadian banks were talking about a similar number.

"Given enough time, it's the fundamentals of supply and demand balances that control the price," Groppe said in an interview with the Financial Post. He based that forecast on a rise in oil consumption, a return of economic growth combined with static but reduced supply levels.