We have an economy that has shown signs of slowing. With energy prices at extremely high levels -- and now moving above those levels -- this is kind of a double whammy,

If we have colder-than-normal weather, we'll see a bit of a shock to the economy, ... I plan to put a sweater on at home.

We've climbed very quickly and strongly so prices are ready for a correction. The fundamentals haven't really changed. The crude market in the Atlantic basin is well supplied.

If it's not rhetoric it's an effort to recapture the share of the oil cut that they gave away to deep conversion refiners,

The market is awakening to the scope of the risks.

It's late in the game. The only policy changes that would have an immediate effect would be demand restraints, such as increases in gasoline taxes, alternate driving days or enforcement of speed limits.