People don’t look much at supply and demand these days, and they talk about it even less, but it is good ol’ supply and demand that determines the price of all material in a capitalist society. Oil is no exception, and demand has been off for quite some time, hence, the unusually large amount of surplus in our current supply. To combat this, several oil company economists have issued a few reports that indicate the supply is not nearly as large as is being reported, but my gut instinct is to not trust oil company economists.