Oil heading $150 a barrel...Are we ready??Any alternatives??

I wish it were so, but the price increases we've seen for a barrel of oil are no longer justifiable with conventional supply & demand. At this point, the price of oil is mostly governed by Oil Speculators that are buying oil futures at a dizzying pace. This is a bubble in the market, similar to the internet bubble in the 90's and the housing bubble in the US a few years ago. The bubble might subside, but prices will never come down to levels we saw just five years ago.

Unless we ban Oil Futures. India has already done it. Germany is considering it. It won't work unless everyone gets in on it, though.