What does the blue, orange and green base lines represent? Note the Price Control number less than the world price. On a supply/demand curve, this represents a shortage, or as we saw it "odd and even days".

The graph isn't the best (and may be 6 months old), but it does give a good idea of the spikes that have happened recently and in the late 70s/early 80s.

$68/bbl yesterday. Can I officially say my prediction has come to pass?

$65 and falling today. You can say you were correct for the short turn but it will go up again.

So what bubble did all this funny money run to now?

Never noticed these threads till now. Bought my SUV on July 14th. Check the daily charts! LOL!

Just called the 76 station where I try to fill up in San Bernardino when I'm in the area. $2.859 for diesel today. I am going to be in the area meeting a friend for lunch. Even then at that price it covers the cost of driving over there. When the spread is more than $0.10 and I'm less than ¼ tank it costs less. That spread is $.42 from the Valero by my house.

Treasuries at thier lowest return. Go figure.

Isn't OPEC meeting today to drop production? Fill up and enjoy the dip while it lasts.

WM: They did cut and oil still fell $4 a barrel.

Deep, did I read that right? $2.85 for real fuel? Cah you ship some to me? We are still over $3.50...

Yes, it did fall. Give the cut time to take effect. As soon as reserves numbers fall, I think you'll see an increase. Probably not back to 120 a barrel, but mid to upper 80's shortly.

Funny thing on the way over, I passed the Royal Truck Stop... $2.799!!!

Stopped in on the way back, but the word was out and there must have been 15 trucks in line. So I used the "auto" diesel pump that has the small oriface nozzle, but I was able to pull in right behind a guy finishing filling his dually.

Excellent call, Troop.

And I suspect we'll see $40/oil before we see it in three digits again (if ever). The demand destruction going on right now is horrendous, and there is no news anywhere, globally, that indicates any evidence of a turn.

I'm going to be buying hundreds of gallons of fuel this month. Thank-you Mr Market!

I predict it'll be over $100 by July 2011.

Ford stock is at $1.89 today. If oil stays down (and I think it will, for those of you old enough remember the 1973 and 1979 embargos), Ford may be a good buy. Even at $7/share it looked pretty attractive last march

That's about ready to break a buck?

Maybe diesel will too? But of course for that to happen, none of us will have a job to go to.