Well, if definatly temporary. Oil is there, a lot of it but not enough to really lower prices over a long time. But i can see prices dropping a tiny bit when hardcore drilling begins. A part that i saw which i think is important is...

falling dollar are to blame for high oil prices, not a shortage of supply.

and another...

The Saudis estimate Khurais and the nearby smaller Abu Jifan and Mazalij fields hold a total of 27 billion barrels of oil encased in solid rock 5,000 feet below the baking desert.

Saudi Arabia is no stranger to developing giant oil fields. Its massive Ghawar field, with an estimated 70 billion barrels of remaining reserves, is the world's largest.

I must say that i like a quote on the site, If Saudi Arabia get attacked they may use oil as a weapon; who wouldn't With that much oil tied up there i can see one of to things happening, one - Iran becomes a strong/average country like ... France; or Iran is about to get kicked left and right by the US for this oil.

Probably the lata. - Fox