Quote from Lawrence Chan:
There is a rumor here (Toronto, Canada) that crude will spike up 30 to 50%, not among the trading community, but the average joe who drive everyday, and that even went onto the local TV station news program. There are drivers who panic and line up at the pumps to fill up their cars.
What are these people thinking?!
The only reason I can think of why the panic kicks in is that they already borrowed to their neck and very stressed in cash flow. As there are so many cars lining up as I saw that on TV, THAT is scary.