Also watch oil today as tension in the Middle East flare.
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On his watch, oil-rich Kazakhstan managed to get out of its deep economic crisis following the breakup of the Soviet Union in 1991 and has seen annual growth rates of around 10% over the last few years.
The company also became Europe's largest oil company by market capitalization on his watch, as major rival BP PLC struggled to recover after its massive 2010 oil spill in the Gulf of Mexico.
Just remember that although olive oil is very healthy, it is also very high in calories, so it is important to watch your serving sizes and to consume olive oil in place of, not in addition to, less-healthy foods to avoid weight gain, which may negate some of its beneficial health effects.
And we can all watch in helpless frustration as US oil imports increase.
When cooking the fish skin-side down, be sure to coat the pan completely with oil, and to watch the fillet closely.
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As you watch those numbers rise, know that oil company profits have never been higher.
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Finally, we reach near present-day where on President George W. Bush's watch the world saw the third great oil price spike.
To see if these favorable trends for money market rates are gaining traction, keep an eye on Treasury yields and oil prices, but also watch employment developments.
That 4, 000-year-old culture sits at the border between wise development and environmental anarchy, and the people of America's polar county will soon watch with hope and fear as the oil ships move north.
Then, as another bellwether, watch for approval of the economically obvious XL oil pipeline from Canada.
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Under his watch, the country's dependence on oil revenue continued.
Mr. Obama spent the past election year bragging that gas and oil production had risen on his watch, hoping to cadge some credit for the economic boom that has accompanied private-sector drilling advances.
On his watch, he says, the number of operating oil rigs has quadrupled and production has reached an eight-year high.
The crude oil market has had a nice correlation with the stock market in 2011, and I believe oil will still be a key market to watch in 2012.
There are other variables to watch for too, mainly rising wages, commodity prices (oil and agriculture) and the possible of a QE-III in the U.S., not to mention more from the european currency printing press in the year ahead.
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If you want to trade commodity currencies, the best way to use commodity prices in your trading is to always keep one eye on movements in the oil or gold market and the other eye on the currency market to watch how quickly it responds.
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As hopeful as the industry may be, pushing LOST to increase oil supply is ultimately akin to Sisyphus rolling his rock up the hill, doomed to watch it fall to the bottom yet again.
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