The preparations for such an event have been going on for long even though a good many of us had earlier laughed at Goldman Sach’s and the fortune teller Bejan Daruwala’s predictions. Anyone who doesn’t live in high rise apartments has dug up his backyard in search of oil. As for those who live in high rise apartments, they have dug up public places and put up shopping malls after they realized that there was no oil down there. For the last two years, MBA aspirants have been discussing oil prices over lunch. Communist parties worldwide have been calling for agitation against this supposed profit mongering by oil majors, but sympathizers found it too expensive to travel to the venue of the protest. And despite the Spanish king’s last ditch attempt to calm oil markets by publicly asking Hugo Chavez to shut up, there seems little hope that prices will fall much from current levels. So John Howard, the Australian PM, who had earlier pleaded to his countrymen to pray to the God’s for rain is planning to ask them to offer new prayers hoping for a oil price reduction.
How will the world look like once oil prices reach $100? In some places like