Oil's 2-week nosedive shows up at the pump

[ducks]

http://news.yahoo.com/s/ap/20080725/ap_on_bi_ge/oil_prices

[boutons_]

and the oilcos continue spending more buying back their stocks than they spend on exploration, like BigPharma spends $60B on marketing and $30B on research.

If the oil really drops back to 2000 levels, byebye shale, byebye tar sands, byebye coal liquification, byebye OCS exploration (until the next oil price spike).