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Save Money on Gas - Drive More Slowly

Why has no one, not George Bush, Barack Obama, John McCain, or anyone else who fancies himself/herself a leader gotten behind lower speed? It is the single thing that US consumers can do to reduce gasoline consumption, and theoretically, gasoline prices in the near term. Seems like a no-brainer to me.

Is Oil a Bubble? Part Two

Roger H., the answer to your question is, "There is no black goop." That was Masters's point: the 848 million barrels exist only on paper contracts. Because index speculators roll their contracts every month, the paper is never converted to black goop, just longer term contracts that have, so far, been increasing in price. In the oil biz, that's called contango. This is a good time to remember Stein's law: if something can not go on forever, it will stop.