00:00Bid in oil has tended not to last, but you do get an initial bid.
00:04I think that is what we are getting now.
00:06The key for me is not what happens on Monday,
00:09and it is not what happens to the spot price of oil.
00:12Honestly, the United States as an economy will not care,
00:15even if oil goes to $100 a barrel, if it is for one week or two weeks.
00:20But if it goes to $100 a barrel and stays there for three to six months,
00:26that's when people will start to notice.
00:28That's when there will be an economic impact.
00:29So I think what you're supposed to look at is not the spot price,
00:32but the third or fourth forward contract here.
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