Such being the nature of mental life, the business of psychology is primarily to describe in detail the various forms which attention or conation assumes upon the different levels of that life.

An expectation is a future object, recognised as belonging to me.

The sensory acts are accordingly distinguished by their objects.

But though cognition is not an element of mental action, nor even in any real sense of the word an aspect of it, the distinction of cognition and conation has if properly defined a definite value.

The interval between a cold expectation and a warm desire may be filled by expectations of varying degrees of warmth or by desires of varying degrees of coldness.

It may be added, to prevent misunderstanding, that when I speak of contemplated objects in this last phrase as objects of contemplation, the act of contemplation itself is of course an enjoyment.

... when demand is being destroyed by expensive oil just as expensive oil is incentivising increased production - it should come as no surprise that at some point the markets would react.