Is it this one? Untested as it won't load here at work.http://finance.yahoo.com/video/marketnews-19148628/24390547
"... He was saying that we're likely to see $60/barrel before we see $150 again.
I don't know about that. ..."
Neither do I. But I think oil prices are going to be volatile for quite a while. Libya is worth 4million bbd light sweet which Saudi Arabia can't replace. Saudi's extra capacity is heavier and more sour. So it requires different refining processes. Refining capacity might be a problem and ther is not much spare capacity in the world. Don't forget Peak Oil. Which does not mean supply will stop overnight, but that there will be a steady supply squeeze, irrespective of what people will pay.
Right now, can the world afford to pay inflation adjusted $150/ barrel? And for how long? The $147 price peak was pretty sharp. China has > $1Tn in US debt. At $150 per barrel, that's 18.264 million bbd for one year. They can afford it. currently they use ab0ut 10 million bbd.
I read that Arabia need about $80 per barrel for it to be economic for them (this includes the "value add" of injecting oil revenue into their economies). But this is a level that starts to hurt many OECD nations because it raises the price of energy and the more developed countries don't get as much incremental utility from oil consumption. they consume a lot just to stand still, as it were.
But surely there is no reason why all oil should be priced the same? Brent Crude is anomalously high. The US gets most of its oil and gas from Mexico, S America and Canada, not the Middle East. Most Gulf Oil goes to India and China.