re: PRINCE ALWALEED: Oil Is Never Going Back To $100

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The demand isn't there. Plenty of supply, not enough demand. 

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So people weren't filling up their tanks 3 months ago and the economy was basically at a standstill? Supply and demand isn't about if there is a lot of supply available so it should be cheaper. Its about a balance of what you can charge and people are still willing to buy. People still bought at the high price. This low price is artificial to reduce competition, then they will go back to charging what people are willing to pay. I work in the oilfield, but will always shop for the cheapest gas on principle. If everyone did that, prices would be lower. But under the demand we have, people are willing to pay 10 cents more when its $3.20 a gallon. So obviously that's not the ceiling. Demand put oil prices at over $100. Right now the Walmart of oil companies came in and cut prices until the competition is gone and they can inch them back up.