You're right, of course. I also think T. Boone Pickens ( some love him, some hate him- I'm neither, but he knows the oil market as well as anybody ) was right when he summed it up as testing whether consumers would sit still for $3.00 a gallon gas. Apparently they will. Dammit.
Thanks for that tidbit - I didn't know TBone had spoken out about this. Thought all he cares about these days is water.
This is just a very small correction. I'll go nuts if we're going to worry about intraday or even intraweek rallies and valleys, but y'all knock yourselves out.
*Putting my hara-kiri sword back up over the mantel for a while.* At least for this week, "Lord, let me eat steak with my cake!"
"...Pickens knows the oil market as well as anybody and was right when he summed it up as testing whether consumers would sit still for $3.00 a gallon gas"
That's the trouble. We should sit still, park our cars for any unnecessary driving and force the supply so far up that the oil companies would have a glut to store. The consumer is really in control of how much he will pay per month for gas and can cut down the amount he uses by driving 10% or 15% fewer miles.