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Demand for oil. everybody remembers $4 gas in the summer of 2008. >> right. >> what most people don't remember is gas was $1.60 by the end of 2008. >> are you telling me that opec doesn't like where things stand right now. >> opec clearly controls the supply of oil, and i think they are prelt we happy where things are. to them prices are in the middle right now because if you think they were $150 a barrel in 2008. they are now about $110 per barrel so i think opec is probably pretty happy with where they are right now. i don't think they want prices to go above much 120 because that's the poin...

Airlines. they are heating oil companies. >> bill: i understand. >> those are people who are locking in the price now so they know what the price going to pay in the future. >> bill: goes up if it goes down they will lose. >> what's wrong with that? >> bill: might not be anything wrong with it. it's artificial move. not a supply and demand move. opec doesn't have to raise the price of oil. it raises it in concert with the speculators. it just raises it. it doesn't have to because they have got plenty of supply and demand. >> in the summer of 2008. president bush left the moratorium on drilling...

Airlines. they are heating oil companies. >> bill: i understand. >> those are people who are locking in the price now so they know what the price going to pay in the future. >> bill: goes up if it goes down they will lose. >> what's wrong with that? >> bill: might not be anything wrong with it. it's artificial move. not a supply and demand move. opec doesn't have to raise the price of oil. it raises it in concert with the speculators. it just raises it. it doesn't have to because they have got plenty of supply and demand. >> in the summer of 2008. president bush left the moratorium on drilling...

They are heating oil companies. >> bill: i understand. >> those are people who are locking in the price now so they know what the price going to pay in the future. >> bill: goes up if it goes down they will lose. >> what's wrong with that? >> bill: might not be anything wrong with it. it's artificial move. not a supply and demand move. opec doesn't have to raise the price of oil. it raises it in concert with the speculators. it just raises it. it doesn't have to because they have got plenty of supply and demand. >> in the summer of 2008. president bush left the moratorium on drilling and also ...