Oil at 100$ a minor abberation

Oil is expected to touch a high of 100$ and even some predictions that it will cross above 100$ to reach 120$ and leading to the all time of high of 150$.

But the concern is can the world afford the oil prices above 100$ to continue to grow. The answer is NO. If it cannot then the oil prices has to come down and it will happen. Oil may stage a march towards 100$ but will shy away from the three digit figure and expected to trade in the range of 75$ to 90$.

The current oil prices is supported by the growth in the economies of various countries but will not cross 100$ since the prices are not driven by only demand it is also the effect of the bubble created.

Another factor which will keep the oil prices under check is the strong focus of many countries towards advancing in the renewable energy specially the Solar and wind energy which are available in abundant.So don't be panicked it is the trend of any commodity to rise and fall as per the demand and also the speculation by marketeers.Do write in your views on the above topic.