The demand for oil in the U.S. is as low as it has been since April 1997. But, oil prices have shot up as oil is now trading at $100 per barrel. Speculation from hedge fund managers has heleped drive up the cost of oil. These hedge fund managers seek to make a lot of money for themselves insuring the oil companies' profits, which have grown to record levels. But, these prices do not account for other factors such as the environmental damage from oil spills. These prices also highlight the need to get off oil through efficiency upgrades to vehicles and alternative fuel sources to break the oil companies' monopoly on our energy supplies.
http://thinkprogress.org/economy/2012/02/15/425926/gas-prices-rising-demand-1997/
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