diary!  If we have a serious recession, the air could come out of oil to the tune of 25% pretty fast.  

There is a lot of fast money chasing yield/short term profits right now.  My money market deposits have crashed from the 5% to the low 3% in just a few months.  It's very tempting to buy something, but what?  Real Estate? Nope, still puking.  Stocks?  Tried that, burnt fingers.  Many are chasing commods.  No way with my own money -- ever.

Great charts.  Esp. the inflation corrected one.  Really puts this rally into perspective though I really, really doubt we get a puke out like 81-86 again.  80% fall -- that was an ugly time in the oil biz.