$200 oil is still very cheap. 200/160= $1,25 per liter of oil.
1 barrel of oil produces as much energy as 12 workers during 1 year, and at $200 it is still cheaper than Coca Cola.
The problem is that we are used to cheap energy, and this cheap energy is essential especially for aviation. But with production stagnant at approx 85mb/day, and demand rising despite record prices, there might be some dark clouds ahead. And not just for 2009 and 2010.
http://youtube.com/watch?v=XNjZnRA2m68&feature=related