I love these threads, better than Big block vs. Small block!! Just one other item that I don't quite see mentioned although 'Iceberg' touches on it briefly, which is that crude is traded in USD internationally, so as the $$ get's weaker it actually equates to less for the seller. There is so much more at play here than just
Oil and Currencies. The US is not in great shape overall (politically, socially, economically, etc), but heck we are much better off than some of these other world economies right now, Just look at Japan, Iraq. These market conditions take time to work themselves through their own process in the market, for example the potential increse of Ethonal from 10% to 20%, E85, and such items that make consumers as well as producers to 'get it together'