That's an easy scare tactic for the oil companies to use against consumers.

This dovetails nicely because the goals put forward by the California Climate Action Team are consistent with the goals of the California Clean Energy Initiative. Our measure provides the state a funding mechanism to make those goals a reality.

California can be a model for the nation (in a) technological revolution that will benefit the economy and the environment.

Now that the baseline of demand has returned and (oil) prices returned to around $20 to $21 a barrel, the environment is such that there will be a return to exploration, and Schlumberger will be a big beneficiary.

It is going to be an interesting week for crude oil. Demand is increasing as more refinery capacity from the Gulf Coast becomes available.

The hurricane may end up being a big nothing. If it misses oil facilities or the damage isn't too bad prices will fall further. The only way for OPEC to get out of this mess is to overproduce and broadcast they will pump whatever the market requires, which is what they did.