To change things up-- we all have concern's with the high gas prices that we are presently experiencing. I talk frequently to friends of mine about the current situation and how it is directly similar to the present natural gas supply and demand side of this equation and why I support the notion that gas will continue to fall.
Like natural gas, a glut of supply will be the demise of high prices at the pump. The global ecomony is slowing down and the demand for oil will continually fall in it's wake. Futhermore-If China continues to raise interest rates to defer inflation, and slowing its economy further, it's demand will continue to fall.
New onshore supplies from the Bakeen Field/North Dakota will help dampen speculators by raising margin requirements on oil. Throw into this mix the much anticipated killing of Khadfi/Libya that will unleash an additional 1.2 million/b/day into Europe.
This is all the perfect senario for oil , but never the less, it is good news for those who will be traveling this summer and those who rely on the traveling community to make their livlihoods.