i have to agree with you whole heartedly fred, this short term dip in oil means nothing and imo will be short -lived. regardless of that, the quest for oil is a huge endeavor and the big dogs have mucho dinero to spend no matter oil's dip at present as a matter of fact whether its 147 or 97 i believe they already have their budgets set and will let nothing stand in their way to make claims on who is the biggest ,baddest deepest in the ocean. more importantly imo is what the next decade of oil exploration and production will bring online .
bottom line here is the drive for oil will never be anything short of ferocious !(JMHO)