In reply to Jones Beene's message of Mon, 8 Dec 2008 09:07:26 -0800 (PST): Hi, [snip] >There are a number of free-market reasons behind the recent drop in oil to a >four year low: one is slightly lower demand - but demand is still way too high >for this kind of drop with normal market dynamics.
I suspect that the main reason is that the $147 price was driven too far up by speculators, when it looked like future demand would seriously outstrip supply, and now with a recession taking hold, is being driven too far down by speculators, who are guessing that the recession will bring demand well below supply. Regards, Robin van Spaandonk <[EMAIL PROTECTED]>
