while "peak oil"is a theory,the article below points to some glaring facts,the least of which is infrastructure spending.Take that away and you have a scenario that with todays demand barely met, the future will bring supply to its knees.The inventories are up but they are being held by those who fully expect an escallating price.Connacher cut its production in the $35-40 WTI range your range of $65-80 will bring cashflows to levels that will stimulate Connacher's infrastructure spending I beleive management sees the later range and more in 6-8 monthsJMVHO..