Originally Posted by Donger
There really are three factors at play in this decline:
1) End of speculation driving up crude to artificial highs.
2) Decreased demand, here and abroad.
3) The recession.
Hard to say which came first or which caused which. The bottom line is: keep demand low if you want lower gas prices. I do think crude is under-valued now, which will prohibit new E&P. That's not good.
I've had a couple of farmers tell me they are shutting down their stripper wells until the price goes back up.