Mike Church wrote in part: 

...

The price really dropped when they started investigating firms for
speculation - Enron style.... :-) 

mc

Mike Church

The above sentence demonstrates that whilst you may be a topnotch HP3000
person, you are, shall we say, clueless about world events.  You probably
get your news from CNN, Fox or the NYT.

The price of oil dropped all of a sudden because of two reasons; primo, it
had reached a point where people started cutting back on their use of it,
and secundo, the pressure is building rapidly for rolling back drilling
moratoria and actually starting to drill in our neck of the woods again.
This prompted President Bush to lift the executive branch moratorium on off
shore drilling two weeks ago and now places congress in the precarious
position with respect to the sunsetting of the congressional moratorium on
drilling off the coast of California.  The equipment is already there and
oil could flow from there within a year.

Could you please point to specifics about investigations of firms for
speculation?  Which firms are you talking about?  If you mean oil companies,
they have been investigated thoroughly for years now, every time the prices
goes up.  Nothing is ever found and trust me, they go through an anal
examination.  If you mean brokerage firms and such, then you simply do not
understand anything about the workings of such things.  (Quickly now,
explain the concept of arbitrage.)



Denys...

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