Deinonychus antirrhopus

Generalissimo Franco is Still...Dead,

and in other news oil prices have shockingly moved down. Despite all the hopes and prayers on the part of the doom and gloomers, oil prices have moved lower.

NEW YORK (Reuters) - Stocks rose at the open on Monday after oil prices retreated from a 21-year high hit last week, alleviating worries that rising energy prices would derail the recovering world economy.

First off, it wasn't a 21 year high in that there was no adjustment for inflation. Second, I want to know why some people understand the economy moves in cycles, expansion then contraction, but can't seem apply this to things like oil prices? To these people the idea of oil prices being cyclical just isn't part of reality for them. Oil prices must...must continue to rise till thermonuclear war.

Update: Well oil prices went back up now. This article says the reason prices are going higher today are,

• Pipeline probmes in the NW U.S.,
• Repairs to an oil field in Kuwait,
• Trouble with a Gulf of Mexico drilling platform. Fears of attacks on Middle East oil producing facilities.

Also, there seems to be concerns about OPECs ability to produce more oil.

There's considerable debate among analysts about whether many members have the capacity to boost production swiftly and produce more on a sustainable basis.

Other long term influences are the increasing demand from China and India.