I don't care much for Friedman but he did predict in 2002 that oil would go to $60/barrel if things went "bad" in Iraq.

http://www.guardian.co.uk/oil/story/0,11319,769845,00.html

Friedman may have been right about $60 but he forgot to consider the fact that we are already paying more than $11/gallon for gas if you include Milton Copulus' estimate of the cost of the military expenditures to protect oil supplies. This guy has testified before Congress and is the president of the National Defense Council and has had his numbers in his 2003 report checked by everyone who is anyone in the US Govt. Even if you amortize this unbounded cost over 10 years, we are still paying well over $5/gallon.

EV world has a fascinating interview if you can navigate their overengineered and unfriendly website.

It kind of turns the tables on those Americans who think the Europeans are suckers for their high petrol costs. Who are the real fools? And then when you sit back and think about that number ($11/gal) and how they manage to conceal the real costs of oil, then you can't help but drift onto thoughts about how this idea of "economy" and "free market" are a complicated farce to ensure the corporate powers continue their game. I didn't see mention in that article about other than military expenses, such as subsidies to big oil and highway building etc. So perhaps it's even higher. It's the same old thing: socialize the costs and privatize the profits.
How can you give much credit to someone who gets the right answer for the wrong reasons?

Besides which, in that article he doesn't say anything except it may go up or it may go down. He doesn't even seem to pick a side, so I wouldn't even call it a prediction... unless you mean his conjecture that if Iraq/SA can't supply oil then prices will go up. Well duh.