I know that to some folks this may not sound like very good news... but...

I sort of just love it!

I know, I know, the recession is a large part of the reason we are not using more oil... at least that is what we are told by the media... but who really believes the media anymore?

Just maybe it is that the American consumer is scaling back on the use of oil. Just maybe we are shoving it down the throats of nations like Iran and Saudi... shoving their oil down their throats... as well as drying up the money they spend on supporting terrorism...

Just maybe this is where the war on terrorism is going to be won... the American people telling the sponsors of terrorism where they can get off... just can't get their oil off the tankers...

:-)

xtnyoda, shalomed

YAHOO

AS RECESSION SAPS DEMAND, A WORLD AWASH IN OIL

NEW YORK – Supertankers that once raced around the world to satisfy an unquenchable thirst for oil are now parked offshore, fully loaded, anchors down, their crews killing time. In the United States, vast storage farms for oil are almost out of room.

As demand for crude has plummeted, the world suddenly finds itself awash in oil that has nowhere to go.

It's been less than a year since oil prices hit record highs. But now producers and traders are struggling with the new reality: The world wants less oil, not more. And turning off the spigot is about as easy as turning around one of those tankers.

So oil companies and investors are stashing crude, waiting for demand to rise and the bear market to end so they can turn a profit later.

Meanwhile, oil-producing countries such as Iran have pumped millions of barrels of their own crude into idle tankers, effectively taking crude off the market to halt declining prices that are devastating their economies.

:-)