Would you travel that extra mile?

As I write this, oil is ready to surpass the $122 level. Is this the price that must be paid, "oil"?
Chinese Oil consumption is up an astounding 16.5% in Quarter 1, while US GDP grew .6% in Quarter.
While Russia, Saudi Arabia, and Mexico will not be expanding oil production much further, Oil exporters’ internal oil demand will soon cause supplies of oil on the export market to begin falling. Costs to produce new off shore discoveries will continue to escalate. More demand for oil in Mideast hikes prices while their own domestic oil producers increasingly consume their own oil to fuel their fast growing economies, driving up oil prices. I have just laid some basic framework here for oil prices, consumption and supply, but their are many other factors and influences in Oil prices, feel free to add..
Would you travel the extra mile?