This is the only thing you need to know about oil.

Source.

Cushing right now sits at 62,993 thousand barrels. Quite a bit more than the 80 year high everyone was freaking out about in April of last year when Cushing stood at a mere 61,868 thousand barrels. Its going to take a long time to work through this excess. I believe that oil could reach the rumored 18 dollars a barrel.

What if instead of peak oil - we were in an oil bubble all along? A couple of weeks ago HAL was having a horrible day. So I went over to see what was happening. For the year things looked really ugly. But if you did a historical chart, HAL normally trades in the 6 dollar range. Last year it was over 70 bucks a share.