The price of oil, which hit a new record high above $88 a barrel on Tuesday, can rally further and may reach $150 before 2010, the fund manager for Investec's Global Energy Fund said.

Blame the war, miserable economic indicators and the continuous devaluation of the USD for this.  Its not that oil is getting expensive, its just that the USD is getting cheaper.

On a simiar note, during my intership five years ago, my then boss speculated that gold would rise to $2000 and above within the next ten years (it was around 250 then)...Looks like we're on track here.