In spite of a cut in production by OPEC, the price of oil fell to a new low today. I wish it was due to finding a new large oil field, but the truth is that our current economic crisis means demand for petroleum products is way down.
On the plus side gasoline prices are falling daily to new lows. This is good new to poor people are they were squeezed by the high price of fuel. Still, I predict shortages of food and fuel in the future. This is but a lull in the storm.