... 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.

Thus the same object may supply a practical perception to one person and a speculative one to another, or the same person may perceive it partly practically and partly speculatively.

In the perception of a tree we can distinguish the act of experiencing, or perceiving, from the thing experienced, or perceived.

It is more difficult to designate this form of conation on its practical side by a satisfactory name.

When we come to images or memories or thoughts, speculation, while always closely related to practice, is more explicit, and it is in fact not immediately obvious that such processes can be described in any sense as practical.

Both expectations and memories are more than mere images founded on previous experience.

For psychological purposes the most important differences in conation are those in virtue of which the object is revealed as sensed or perceived or imaged or remembered or thought.