How high will oil go in 2011?
"Dollar and record demand from China. Prices pushed above $90 per barrel on December 7 and reached $91.51 on December 22 – a marked jump from their levels near $70 a barrel in September.
The development is significant. Some economists believe that if prices rise much more, especially past $100, it will likely dampen America's already slow economic recovery. As the price of crude rises, so does the price of gasoline, and a higher price at the pump will hurt consumer spending overall.
So where will oil go in 2011? Will it surpass the psychologically significant $100 mark at a time when demand for oil from most emerging economies is expected to rise? Or will it retreat as China tries to rein in growth amid worries over inflation?
Here's a look at the bull and bear arguments for the black gold next year."