Quote from: picolo on December 09, 2014, 03:58:13 PM

Quote from: AJinNYC on December 09, 2014, 12:01:17 PM

The reason oil prices have come down is because OPEC has cut prices arbitrarily. They were artificially high to begin with. On average it costs an OPEC nation ~$30 to produce a barrel of crude. They're still making a shitload of profit.

Oil Demand is going down so prices are going down.

This is the opposite of the truth. Demand is not falling, supply is increased. Demand ALSO is increased, but the balance is shifted to supply.
This depresses the price, which then INCREASES demand (because some uses of the oil are suddenly profitable now).
When demand at the lower price increases, price will rise, and there will be more consumption.

Econ 101 anyone?

You should expect increased use, and increased demand. New car sales will rise also. Airlines will do well.