Oil at $100/barrel?

The price of oil has surged since the start of 2007 (approx $55/barrel). The rise can be attributed to the following factors -

1. Political instability in the Middle East i.e US-Iran relations, Iraq
2. Supply disruptions in key producers such as Nigeria
3. Strong demand from emerging nations such as China and India
4. Weaker dollar (makes oil cheaper for holders of other currencies)
5. US crude inventories