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We advised caution in the oil markets on July 2nd, 2008. We are seeing the correction now. For targets I have $80-$100 as the low. The correction should continue through the end of this year.

When we originally wrote this article, my partner Sergey got a lot of negative commentary on some boards, which made us pretty confident about our analysis. The majority of the public is always wrong near the peaks and valleys. The public sentiment is probably one of the best trading indicators around.

At Money Morning over the past six months, we’ve talked a great deal about oil and gasoline prices. We’ve offered our predictions about how high those prices were going, and have detailed a number of investment opportunities - chosen as much for their margins of safety as for their profit potential.

This time we’re going to detail three energy stocks with the potential for double-digit - or even triple-digit - profit gains. Admittedly, these are longer-shot, speculative plays. But we used a special energy indicator to help ferret out these energy plays.

Much of the world is experiencing famine. <!--more-->Food riots are occurring in Egypt, Bangladesh, Haiti, and South America, to name a few. The use of corn to produce ethanol has been blamed in part for food scarcity and rising prices. Government leaders in South America, India, and the U.N. have called corn as a biofuel "a crime against humanity". Rising food shortages will pressure the United States to stop subsidizing ethanol as an energy source. Ultimately, I expect the Pope to weigh in and speak out against using food for fuel.