There has been a lot of talk about a New York Times piece that seems to suggest that at least so far, record high gas prices have not hurt the economy. Perhaps not here but that may not be true in Europe as weak UK data helped send global oil markets tumbling. And oh yes, we had that story that the French may be joining the US and the UK in releasing oil from their strategic reserve. There also was a build in oil inventory and we will get to that, but let's first focus on Europe.