If the TV show Landman is to believed, its not all rosy for the oil companies when prices go over $100 because it leads to people using less gas:
"Well, you want oil to live above 60 but below 90. And don’t get me wrong, we’re still printing money at 90, but gas gets up over $3.50 a gallon, it starts to pinch. It hits a hundred, every product in America has to readjust its price. $78 a barrel, that’s about perfect. You know, brings enough profit to keep exploring, but it don’t sting as much at the pump."