I have the video clippings of several prominent business forecasters’ interviews and their views on the oil. All the interviews were taken just before the oil hit the all time high mark of $145 sometime last year. A number of them went on to predict oil breaking the $200 mark. A number of them cited reasons like how oil conumption is rising without any effort being there to discover new oil resources or to develop alternate fuels.

We all know it crashed soon after touching the high to an all time 36 month low of $32.

I then saw a Newsweek cover story dated April 20th, 2009 which predicted “Cheap Oil Forever” and talked about why prices will keep on falling and falling.

This week, oil had touched a new high of $60.