"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey

It's really no secret if you stop and think about it. What greater tool can a small group of people have to control the masses than oil? There really isn't one, is there?

Magically, and almost on cue oil prices began to cave, and the closer we get to the election oil prices will probably continue to fall. Giving up this manipulative and powerful tool by way of alternative energy seems very remote. If the citizens of the U.S., and people around the globe had to no longer rely on oil for everyday use, total control of the masses would end. I just don't believe the powers behind the curtain will allow this to happen.

I believe the solutions to energy independence are quite simple. Assuming two cars per family- an electric car for in-town use, and a fuel efficient gas powered car for long trips, makes a lot of sense to me. Converting every coal, oil, and natural gas power plant to nuclear also makes a lot of sense. Unless I am way off base, I believe this would cut our nations oil consumption by 50-70%. Will it happen? I don't think so. We have had plenty of opportunities in the past, and oil prices "magically" decline prior to full implementation.

And, what about a high speed rail system? Why are some European nations light years ahead of us technologically? Since I believe I am wasting my breathe, I think I'll stop right here.

This morning I saw where Wachovia immediately gave it's new CEO, Robert Steel 1,990,090 shares of stock with the whopping cost basis of 0. This means at current prices Mr. Steel picks up around $25,871,170.

Sure, Steel has some great incentives to get the stock price back to its old highs. Even if the stock reaches $40/ share over the next 2-3 years, Steel will pocket around $79 million. Is this unbelievable or what?

Disclosure: I own some Wachovia stock

Yesterday, the DJIA jumped 207 points after Oil prices fell for a third straight day to close below $130 for the first time since June 5th. The Financials rebounded after JPMorgan reported better than expected earnings.

Today's action is a little more subdued after Google and Microsoft posted disappointing earnings.

On the positive side, Citigroup posted better-than-expected second quarter results, and the stock is trading just below $20, up $1.50 on the day.

For now, let's hope the behind the scenes guys keep adjusting the price oil on the downside. If they do, we will have a lot a fun in the weeks ahead.