For those of us who are old hands at Peak Oil issues I am reminded of the lines from the movie Twister (which is back on HBO).  

Dusty: Bill, it's coming! It's headed right for us!
Bill: It's already here!

LOL, more probably the beginning of Act I, Scene ii or Scene iii of a five or more act play, if we take year 2000 as it's approximate start. Perhaps 'King Lear',
which may be an unfortunately appropriate model for what will unfold, whose Act I Scene ii begins:
"Thou, nature, art my goddess; to thy law
My services are bound. Wherefore should I
Stand in the plague of custom, and permit
The curiousity of nations to deprive me,
For that I am some twelve or fourteen moonshines
Lag of a brother? ..."

This tragedy is barely commenced; see,
The audience is yet spare and still crowds
Sweatily through our playhouse' portals.
Far more have seen and heard nought, meander
Abroad in supine ignorance knowing not
This balmy breeze stirring spring leaves forebodes
A tempest to rip the world asunder.
But I get ahead, our play is just begun.

On oil price, it should put on another couple of $ tomorrow, Friday 14th, since little is likely to wind down tension on Israel / Lebanon / Palestine / Iran / North Korea / Nigeria / Iraq soon and it's a G8 meeting in St Petersburg, Russia this weekend. But it shouldn't top $80 before next week unless a further turn for the worse happens. Next week could see $85 if any problems rachet up at all.