Global economy may not be as fragile as we thought initially and particularly India and China consumers keep their pocket open. There is good corporate spending in India. Yes Dubai was a setback . I think OIL can top 145$ in 3 years. 2010 can see oil above 100$ but may not breach 140 level yet. Plenty of crude is being pumped around the world that needs to be absorbed before a real supply tightness.
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On a scale of 1 to 10 oil hitting 140 range again is only 4. That means there is less than 50% chance that it can happen again because first economy is nowhere near what it was 3 years ago. Specially big oil consumers like usa and europe, and secondly oil output has increased substantially along with new discoveries in 08 and 09.
Overall demand won't keep pace with supply and hence prices getting beyond 100 will be a dream. Only caveat is dollar slump. If dollar falls further that can push oil prices in dollar terms.