Barron's: Get Ready for $150 Oil -- Again

Link here. (Requires a subscription but headline, first two paragraphs are the crux of the story. The good news -- not until next spring.

The U.S. economy is never completely ready for higher oil prices, which is one reason they take a nasty economic toll when they arrive. But readiness can be enhanced by awareness of the likely outlook for petroleum prices–and the outlook today is relatively grim, although probably not disastrous.

Despite the recent 20% decline from April highs, new highs on crude, heating oil, diesel fuel, jet fuel and gasoline seem likely over the next 12 months. Following some further easing over the summer, the second leg of the long-term bull market in petroleum–the first occurred in 2007-08–probably will begin this fall.

So, we'll see. We seem to get these headlines / stories about every six months or so.

A big "thank you" to anonymous for alerting me to the link.