According to the Congressional Budget Office, oil prices may be $14 higher in 2010, primarily due to China's demand for fuel. Might be a good time to buy oil futures, a commodity fund, or perhaps LEAP's on oil producers and oil refineries…? As the price of gas continues to rise, we should see more demand for hybrids and fuel-conserving vehicles.

More from Bloomberg News (article reprinted below)…

WASHINGTON—Oil demand in China, the world's second-largest consumer of the fuel, could add $14 a barrel to the cost by 2010, the Congressional Budget Office said. Higher crude prices in turn would raise U.S. gasoline prices by 16 cents to 33 cents a gallon, the report said. Adding potentially higher refining costs, gasoline prices could increase between 19 cents and 38 cents a gallon by 2010.

China became the second-largest consumer of oil in 2004, behind the U.S., the report said. About one-third of the increased global demand in 2004 came from China."