Reply #19: Yes, but not in a few short months. Demand actually outstripped supply

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and there were spot shortages all over the world, even here in the U.S., for most of 2008. In July of 2008 the price per barrell of oil reached $147 as demand challenged supply. As with every such situation, the price went up and specualtion went with it. But, in September of last year, the global economy collapsed and with it demand for petroleum products. A surplus has been building ever since which, rather than having been a "few short months", has been a year.

Natural gas may very well be lower this winter because reserves have been added from right here in the Barnett Shale where I live to the other gas plays now going on in Louisianna and a couple of other domestic locations. But, we're not talking about natural gas. However, the price of home heating oil may again be a problem this year, though probably not as bad as it was last winter.