How much has the price of oil fallen in four weeks? Has “demand” fallen by the same level?

If not, how does Fox News explain their theory of "supply and demand" in reference to the price of oil?
Why has the price of oil fallen so drastically without drilling for more of it either offshore or in Alaska?

6 Responses to “How much has the price of oil fallen in four weeks? Has “demand” fallen by the same level?”

  1. vangion Says:

    Oil is a commodity traded on the stock market and the stock market is doing what these days?

    The demand has dropped because there are not as many investors willing to pay the high price

  2. MadLibs Says:

    I’ve been wondering the exact same thing Chi- thanks for asking this.

    My answer: s-p-e-c-u-l-a-t-o-r-s

  3. bonnie w Says:

    Well with the banks having problems, how could they justify a price hike. Besides the demand has went way down. It is a trend that I hope keeps going the price of gas needs to go back down to at least well $2.80 or something like that.

  4. BekindtoAnimals22 Says:

    A lot more people are out of work so they stay home. The unemployment figures don’t include all the small businesses related to home building. That figure would probably double the unemployment figure. People don’t get unemployment when they are self employed. Also, with the economic problems, people are making a lot fewer short trips for shopping, etc. They are holding on to their cash. Also, summer is over. Gas always goes up in the summer time.

  5. nosnod™ Says:

    I watch fox news and they have talked about the problem being speculators and supply and demand…
    demand for oil has drop along with everything else but mostly with the market being off so much there isn’t any thing in it for the speculators at this time…
    speculators work off of demand they push up cost of things we really need or want…
    always nosnod

  6. ♥ Mel Says:

    The gas prices have continued to fall here in OK. It is down 25% and still coming down.I know the dealerships do not take the Big gas guzzlers in as trade in anymore and people are parking their cars and driving small Econo cars and fewer are taking vacations and making needless trips.
    The demand have fallen some what here from personally talking to Gas places here.