Why are gas prices falling? Why did a barrel of oil fall below $38 today?

Because almost the entire industrialized world is in recession because of the credit crunch brought about by the American banking crises and frauds, demand for any kind of manufactured goods has plunged as has demand for fuel oils.





When there is no demand, either producers have to cut back on production, or prices must fall, or, as in this case of severe recession, both.Why are gas prices falling? Why did a barrel of oil fall below $38 today?
Oil is going to drop cause OPEC has lower oil share, the US uses 20 million barrels of a oil a day, and the new cut only cuts 125,000 barrels a day while non OPEC nations are increasing production 865,000 a day.





We have been hit hard cause of the fourth quarter, and just ask a CEO like me? No one hires in the fourth quarter because we need to cut are liabilities to get are bonus! Most CEO's I know are cutting their cooperate investment accounts, and cutting thousands ';staff liabilities.';





The answer is compared the rest of the world the US economy is considerably better, the EURO is down 311% or 2/3 of market share in a year, China is down 22% in a year, and the US is only down 1.3% in a year even though the stock market is down 40% GDP is much more important.





Let me do imitations to show the clear truth!





1. When Obama takes office the DOW will go to 100,000, there will be a 5% job surplus, and all my bills will be paid the first week in office.





2. The congress messed up the world, people will have to eat rats, Obama is Jimmy Carter, and Bush was President but had nothing to do with the problem.





3. The price of oil raises the price of goods, it drops 300% in 2 moths, and the prices of goods drop as a result of consumer outrage and this is labeled as deflation?





You see what really caused Americas problems now?Why are gas prices falling? Why did a barrel of oil fall below $38 today?
Low demand, high supply - just a few months ago 'analysts' were talking about $200/barrel oil.
I guess Bush lowered the price since everyone thinks he originally raised it. (sarcasm)
Demand is low and the reserves are going up.
what!!隆 then y is gas still 2 something in chicago