Once the bubble bursts there will be some serious losses, but most of the main players will have pulled out and moved onto something else. Those who got in too late will be holding oil they have bought at $130/barrel hoping to sell it at $150+, but finding they can only get $90 for it.
This wild futures and speculators driven ride can't go on for ever. There will be more pain to come, prices could top $150 but eventually it will collapse like the stock market in 1987.
It might sound harsh, but I can't wait to see the bastards get burned.....to a crisp.