That's not alone a fact in the US or Canada buth also here in Europe.

We had a lot of car makers in Belgium.Now since a couple of years Renault closed his whole plant ,VW is out only the Audi is in small production ,now Opel will probably closed end this year and Volvo is in hads of the Chinese now.All the work intensive labor gets out of well paid jobs and gone elswhere.

Therefor IMO what politicians are searching for is a shift in high level and new technics to come like the electric cars ,and other industry which will focus on less use of energy or sources like the sun ,water wind as energy supplier.Many companies have lowered their payment for the workers .Also where I work the new employees their wages is 10 to 15 % lower and less bonusses .I think that's a fact in Europe and overseas countries.

That's why Obama IMO will try to shift the industry in another form of less dependend oil use technics .In time this can bring economy back on track with good paid jobs again.Coutries like Sweden ,Norway ,Finland have reduced their independance from oil to a very high level compared to others and they will reduce it more in time.

That will not stop IMO the oil price from getting up because the living status in nations in the EAst will grow so the demand for oil will shift more in their direction.Like Brian mentioned the best time we have had so far in the Western world.So I don't see stock markets grow as rapidly as it was before .

But with small companies like CLL you never know what the future will bring.If they can bring Algar in full speed next year at current sp cit an be a double by then .If the world economics can regain speed we can have a good 2011.

Yesterday I talked to our CEO .She (we have a femal one) told that catalyst demand for 2011 will be bigger then the best year in 2007 .So catalyst is used for cracking installations mostly so that can be a good indicator for oil companies.

I think many companies have used the crisis to get rid of some workers or to reduce their capacity to a minimum putting pressure on negotiations with the Unions to lower wages and cost.They sold a big chunk of their stockpiles and now with future becoming a little brighter they will start producing again with a lower costprice to support profits.2011 could be a good year IMO but if it will last that's a question.

I'm a little optimistic for months to come .The only we need for our complex operating company is some luck now they don't encounter major problems.