[Night Hides Not]

I don't share your optimistic view of the general public.

Nor do I.

However, oil producers and oil companies, have jumped the shark IMHO. The US economy is like a battleship--it takes a long time to get turned around.

Even if gas does make it back to $1.50, the average consumer will remember that it was above $3 for much of 2006. Future consumption and spending habits will factor this in.

Business planners will be factoring in this year's explosion in energy prices, too.

I'm no futurist, but planning set into motion at $3/gal is not likely to be cast aside with $1.50/gal gas.

[Axhandle]

"Even if gas does make it back to $1.50, the average consumer will remember that it was above $3 for much of 2006. Future consumption and spending habits will factor this in."

I see too many people living off credit, well beyond their means. I do not believe most people are so far-sighted.