Sure, we've seen gasoline demand drop a tiny bit as energy prices rise - and some say that the drop in demand will drive prices lower.
But the facts say something very different:
Look: In 1990, oil was at $23 a barrel. Today, it's flirting with $140 - a 509% increase.
If the oil bears were right, you'd expect U.S. oil imports to have dropped dramatically - right? But U.S. oil imports are up a staggering 70% since 1990 - even as oil doubled to over $50 per barrel ... doubled again to over $100 per barrel ... and continues going ballistic right now!