How low can you go?

Turns out that for a while we were all talking about how high oil would go and how it will crash the world's economy.

Well, we were right about crashing the world's economy, but merely months after the Red Leader of the Western Hemisphere predicted $200-300 oil, Hugo Chavez says "fair" the barrel should be $80-100.

What needs to happen to better the global economy is for the barrel to flatten and find the bottom, or what "true value" is. Crude oil, by historical perspective, is cyclical and has had booms and busts. The remarkable thing about this time is the rapidity of its ascent and descent.

One only hopes now that the author can contribute to this page as often as the barrel rises and falls.