Jackal

Is Valero a Better Buy than Exxon Mobil?

Out on US I-95 my mental tracking of the traffic and its speed tells me that there aren't many folk changing their driving habits. A few truckers have followed me at 60 mph (I am one who is trying to cut back a bit) but most are wheeling along at 70 or more. Some near 80 mph. (est.)
Something tells me that $4.00 gas is being accommodated in our economy with very little pain - or adjustment. If that's the case, any dips in the price of oil will be filled by the increasing demand of new drivers rather soon.
Finally, some engineer could calculate this: How fast would hybrid or new fuel cars have to be produced - and sold - to make a significant enough dent in demand to truly force prices to abate to oil at $100.00/bbl. Methinks there's not enough auto production capacity to do this quickly and secondly methinks there's not enough demand around for $2.00 gas. Too much money in circulation!
My bet is on $5.00 gas before $3.00 gas. Any takers?