The scary part is that if huge oil prices lock up resources than we probably cant just put people to work on land based rigs, they are most likely all tapped out. We need deeper ocean oil, Maybe Algae "the green stuff" will save us, he he.
There also exists the possibility that huge reserves untapped are not being talked about and will be released if 200 starts to bring us down.. 300 dollar oil will probably get like the movie 300 yuk and no one wants that.