It's interesting how the potential situation in Greece is driving the price of oil down. This could lead to all sorts of fun slogans. Maybe we can have insurance agencies hiring Frankie Vallie to sing, "Greece is the Word" for their commercials.

I think, however, this is a symptom of a larger problem. Many of us agree that the possibility of another downphase in the current depression is quite high. What will set it off? Dubai didn't. Greece could, but I think the powers that be in Europe will step in to prevent disaster there. But there are bigger problems down the pipe. Look at Spain, which appears to support [others] giving help to Greece. Only because they are probably the next country to implode? We're going to be on a rough road over the next couple of years, although I had kind of hoped that we'd make it through most of 2010 before the next global economic disaster.

So if oil drops, so does Connacher. That's another interesting phenomena. Connacher was down about 5% today, the last time I looked, and so is oil. But why are they so closely tied? I think this is a good signal that the market doesn't fully understand the company. The hedges should loosen the elasticity of the tie to oil.

I do agree that Europe will be the region to watch over the next few months.