Oil going higher?

I mentioned on the Video Report 2 weeks ago that crude was looking good. It has then since run up a few Dollars. Was reading this report and found it interesting

I received another scratchy, crackling cell phone call from my drilling buddy in the Texas natural gas fields today. You could almost choke from the dust on the line.

He told me that the BP Gulf disaster was turning the fundamental assumptions of the oil industry upside down, and that sharply higher oil prices were in the cards, probably $100/barrel by year end.

Major oil companies with deep pockets at risk were rushing to offload their existing offshore leases and partnerships in producing wells to avoid BP’s potential $30 billion hickey. - Source - Apologize for the inappropriate language.