I like how you put the two graphs together. Excellent! As for the winning bet....it's going to be like a surfer riding the waves, and seeing which wave will be moving through the finish line (Dec 31), however that is done, is the key to the bet. Obviously, the May 2007 to May 2008 price wave was a big one, and now the world gets to catch its breath and adapt to this post $100/bbl reality. A lot of people have been using a little bit less each (which does add up to about a 5% consumption drop, for now) of oil products, so demand is likely to be down. But so is production in a lot of key spots, and more importantly, the volumes of Exported Oil are also likely to be less for 2008 than they were for 2007, and the same for 2006. And maybe the KSA rulers will decide after the Nov U.S. election to cut back a small bit on production, and rake in a big chunk of coin, again, and thus make money while their oil fields recover from this recent session of all-out pumping. I'm guessing that will pull up the price just in time for the holidays. Merry Xmas, sort of...

Nb41