[oil and gas] $100, $200 a barrel by next year ... or not

There's an awful lot of gloom and doom being talked about at the moment over oil.

"If another major event takes place, it's not at all unrealistic for oil to spike to $100," said Bruce Lanni, an oil analyst at A.G. Edwards. "And there's no fundamental reason in this current climate to see oil prices retreat below $70 in the next few months."

An Iranian official have warned that oil prices could hit $200 if international sanctions were imposed on ... read more here and comment.