Energy Environment

This article illustrates the concept of Supply and Demand, as it talks about the changes in price per barrel, and the consequences of this occurrence. Not only are hundreds of thousands of workers losing their jobs due to the plunging prices of oil, but companies are also going bankrupt. This article talks about the current oil prices, and why they have fallen to its current state. Domestic production has increased, making the value of oil much less. The more we have of a certain product the cheaper it will be, mostly because not only will there be more of the product in the market, but there will be more producers willing to sell their product at lower prices.

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