It brings it back to oil. As long as energy is making new highs, Treasuries will rally.

People were thinking that, if the oil refineries take a direct hit, energy prices would shoot up and it would have a bigger impact on the economy.

The message is clear about the impact of energy. If by some chance the cost of oil were to reach $100 per barrel, the future for many small businesses would be uncertain.

Last month, the Energy Department almost doubled its long-term oil price forecast. That means gasoline prices will continue their upward trend. At the same time, the signs of global warming are clearer than ever. Simply by choosing the most efficient vehicle in each class, we could cut our average gasoline bill by $510 a year, while cutting carbon emissions more than 30 percent. So whether it's for your pocketbook or for the planet, there has never been a better time to buy a green vehicle.

Energy stocks will fall more if oil prices pull back further.

I will work for energy policies that recognize oil won't last forever.