I Like To Thank Everyone For Their Conservation Efforts. Oil hits 7-week low.

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Oil prices tumbled to their lowest level in seven weeks Tuesday as beliefs that record prices are eroding the world's thirst for energy sparked another dramatic sell-off. The U.S. Transportation Department said Monday that U.S. drivers logged 9.6 billion fewer vehicle miles in May - or 3.7 percent - compared to the same period last year, the biggest drop ever for the historically busy summer driving month. I know that many people drove less because they had no other choice, but many people like myself, cut back due to fuel prices being artificially inflated due to oil speculation. I'm not 100% sure how oil speculation works, but those who speculated that the prices would continue to rise will probably be selling off and cutting their losses. This should cause prices to decrease ever further. Demand for oil in the U.S. - the world's thirstiest consumer - continues to fall, dropping by 891,000 barrels per day in May compared the same month a year ago, the Energy Department's Energy Information Administration said Monday. I hope as oil continues to drop, we don't revert back to our old habits. I hope we continue to conserve. Reducing our use of fuel is the one thing that the oil executives understand. They would rather sell fuel at $2 per gallon as opposed to not selling fuel at all. Once again, I'd like to thank everyone around the world for their conservation efforts and particullarly the people of the United States of America, who have known nothing but abundant supplies of fuel. Lloyd