USA today said this summer that americans drove 30 billion fewer miles. I did the math and assumming the average vehicle gets 25 MPG (2004 est was something like 24.6 so i rounded up) thats 61.5 million barrels of oil saved over 1 year (basically we drove a little less than 1% of what we normally do) Now..Opec has decided to cut production by 1.5 million barrels (but they say it will be closer to 1.8 million because they are already producing 300k barrels a day too much) But using that 1.5 million barrel number, in 41 days those cuts will pick up the slack from us not driving as much for an entire year. Couple that with the fact that gas is at 2 bucks per gallon and americans will probably start driving more (I plan to take a road trip next week just because of the cheap gas) and we are picking up our own slack at the same time! Yes inventories were just released that we had more than expected, but next month, prices will probably go up. (now to hedge my bet!) Of course if some other country is picking up OPECs slack. Ignore everything i just said. Oil will stay cheap. Kinda makes you wonder though, if someone knows something we dont and if they are unloading oil while they still can. Maybe we are on the verge of some new alt. energy being created?