Originally Posted by Pilotpip

Oil will settle at whatever level the market can sustain. Consumption has been reduced quite a bit in the last couple years. However what I think is sad is that people now see $3.39/gallon as a bargain.

If we continue to use less than we were and continue to seek alternatives to petroleum and look at recycling or fixing things that are broken rather than simply replacing them (as stated petroleum is used in almost everything we buy) the price will have to come down because there will be more competition.