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The reason the old man TLJ dreams for such a thing is that at the end of his career and the meaningless insanity he has witnessed in his career, he wants there to be some light on what it all means and some warmth for his soul at the end of his journey.
I had a different reaction to it. I haven't read the book, so this is based completely off what I saw in the movie...
I took TLJ's character to be haunted by his inability to save Moss...but even more than that was the fact that he lived through it. Throughout the whole movie we hear about how old lawmen died doing their jobs, not for the glory but because that was part of their job. We learn in the movie that TLJ's father died 20 years younger than TLJ's character is, doing his job as a lawman. TLJ failed to do his job in two ways: he didn't save Moss, but more importantly he didn't die, that is, he didn't have anything to show for the fact that Moss is dead. In the dream, we hear that his father goes on ahead of him with his torch, ignoring TLJ and leaving him in the dark. TLJ's dream is an expression of his fear that his father is ashamed of him for living while those around him die. He knows that whenever he catches up to his father, ie dies, he'll be there with him again and not be a failure for keeping his life while those around him lose theirs.
I think an illustration of this interpretation is when he learns that Chigurh returned to the scene of a previous crime. TLJ returns to the El Paso motel to find the door lock cylinder blown out. He stands in the doorway and senses that Chigurh is inside, gun in hand, waiting for him. He stands outside the door, gathers himself and enters, fully expecting to die. Because he wants to. But as he says in the film, Chigurh (or twisted fate, as it seems he is often portrayed), is elusive and unknown like a ghost (as TLJ calls him), and TLJ escapes the fate he seeks. His "And then I woke up" to end the movie expresses the disdain he feels because he is able to do so. I guess mine is a particularly dark interpretation of the ending...
If someone who has read the book has some more insight into everything, I'd love to hear it.
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i was also curious about anton hiding in the hotel room when jones goes up to it. was he hiding in another room?
Anton was there, I guess in spirit, although that's a cheesy way to put it. His presence was there, but he physically was not. It's a heavily symbolic scene that seems open to interpretation. As I explained, I think he was there only because TLJ wanted him there. You can see in the cylinder of the lock the movement of shadows, ghost-like reflections. As TLJ opens the door, they disappear and Chigurh is gone. I don't believe he physically escaped the room...he may have been there when TLJ arrived, and if he was, it cements his status as an elusive ghost-like figure who is unable to be captured. He would not escape through the vents though - doesn't fit Chigurh's behavior throughout the movie. The only time he ran from someone was when Moss shot him.