Hence, in desiring, the more the enjoyment is delayed, the more fancy begins to weave about the object images of future fruition, and to clothe the desired object with properties calculated to inflame the impulse.

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

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

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

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.

The sensory acts are accordingly distinguished by their objects.

... 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.