[marktwain]

It is the instability of oil producers that is pushing the bubble, at least in part. It will be interesting to see what happens when the bubble busts and Iran and Venezuela, who are already overspending with $100 plus oil, have to make do with $60 oil.

[pierrem15]

My understanding is that the Saudis have considerable excess production capacity: look for that to come on-line to help McCain and stick the Iranians and Chavez in the shorts a few months before the election.