Just a thought...I'm off travelling right now so can't see reply...
But in terms of demand destruction, it's a lot more "in your face" that gasoline is costing $100 or more to put in your Hummer than it is that your nat gas bill went up $10 / month. It causes one to think about whether to take the Hummer to the Grocery store or the little Toyota Prius... and to pick the kids up from soccer etc. etc. I mean sitting around the house in sweaters to save maybe $5 - $10 / month isn't going to occur to us, but not taking that car trip 1000 miles might because all of a sudden you realize the fuel bill for that trip isn't funny.
I think oil is more likely to suffer from demand destruction than a $1 hike in Nat Gas prices. I suspect Suncor who uses a lot of Nat Gas has a different way of looking at it and trying to reduce costs. but using less of it to produce oil probably isn't an option.
Just something to think about on that one single point.
But on BNN, I did hear it say that there were some large new discoveries this year that are coming on line this fall that would "mitigate" gas prices down. They couldn't indicate by how much or would it be down from their expected highs or down from "here"...
Sorry - not very helpful am I ?