An oscillating universe cycles through a series of expansions and contractions. We propose a model in which ``phantom energy with $p < -rho$ grows rapidly and dominates the late-time expanding phase. The universes energy density is so large that the effects of quantum gravity are important at both the beginning and the end of each expansion (or contraction). The bounce can be caused by high energy modifications to the Friedmann equation, which make the cosmology nonsingular. The classic black hole overproduction of oscillating universes is resolved due to their destruction by the phantom energy.
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