The world's gasoline and oil supply jumped three percent, the old high last year of $75 was broken, Arabia is screaming they have to preserve profits?
WHAT "profits"? You mean the windfall of $147 a barrel oil?
Sorry, it isn't selling and yes, we may take a daytrading hit today on option expiration, but the fact remains, the world is turning away from oil as the heating choice, and it is showing up in hybrid cars, another half dozen by 2010, and energy efficiency in the home, to include cheap electrstatic heating, tax incentives for hybrids back on the hill (up to $7500) and the expressway awash with Smart Cars and Corollas getting 40+ MPG.
Sorry, but oil demand is about to diminish by ONE THIRD, and we'll see $55 long before we see $100 for the next three years.