Whatever you do, don't buy that new suv or low mileage car even if it's a great deal!! $4 - $5/gal. gasoline isn't far off according to Opec. Saudia Arabia: $200 Oil In 2 Years "Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within two to three years, as energy leaders on Monday decried a blow to investment in expanding capacity due to the financial crisis. Energy ministers and officials at the Group of Eight energy summit in Rome are meeting as oil prices hover at a six-month high of over $60 a barrel, but below the $75 a barrel level producers say is needed to spur investment in new production. Saudi Arabian Oil Minister Ali al-Naimi said the world was heading for a fresh spike after the current phase of faltering demand and lower prices, which reflected the global economic downturn rather than an indicator of things to come." This is not the kind of news the world wants to hear in a deep recession!