Oil Prices Plummeting, but why?
– Europe & Asian Demand for oil has slowed
– World Oil Production is higher than consumption
– OPEC not lowering production (to thwart US tar/shale investments)
– Shale & Tar Sands Production Increase over past 10 years (now decreasing due to low oil prices)
– Fuel Efficient Vehicles on the rise (maybe a small part of it)
….mostly it is simple, there is far more supply on the market than demand!