The EIA revises June YOY oil consumption down by 5.6%, or 1.1 million BPD. Surprised? I'm not. Will it stay that far down? I don't think so. That was when the sticker shock of $4.00 gasoline was just setting in. July YOY will be similar, August YOY will have lower consumption, but not as much lower, as people adjust but still have to drive. But mostly June, July and August are the summer months of optional oil. You do not have to take a long vacation. Stay closer to home. Keep that power boat docked, I know Huntington Harbor was light on traffic on Memorial Day. But now school has started and you still have to work, gasoline is down below $3.75. Kids go to school, buses have to run, houses will get heated. It will take longer than 3 months to permanently reduce consumption by 5% unless we get a warm winter, and higher post election prices. In the meantime, don't get to excited.