Bad news again in the financial market.Where will this end?

Got an artickle from a friend about related risk to oil investments.

It was from Totals CEO who stated that cost are building up and this was covered by higher oil price.But now oil is dropping and IMO we have not seen the bottom yet ,this will affect earnings.

Today the financial problem was discussed on TV news and analist said we haven't seen the end ,and it could take until 2010 after all trouble is out of the market.US housekeepers are facing higher payments due to this problems because their houses debt is much bigger then actual values due to a drop in housing prices.

So to me that will put a downside risk on oil price .Also banks outside the US are facing trouble.I can't imagine that this will not effect on economics and on oil demand.

Totals CEO stated that if oil price comes below 90 it will be tough for oil sand companies investments returns and also to get financial deals.In that case CLL has already the financing in the pocket.

How do you guys look up to the problems in the States and what's the feeling among citizins?