On NBR last night they were talking like $110/barrel is definite and as things escalate in Iraq $150 is an outside possibility.
The economy won't support $150 oil, regardless of war in Iraq. Speculation may drive it up for a spike but it won't stay there long.
several years ago when oil spiked, TGC spiked to $3. They were drilling more aggressively then. Hopefully they become more aggressive again. I am not looking for that kind of price spike but I am looking for more than that long term.