The decline in the price of oil - in the face of surging geopolitical pandemonium - has been lauded as indicative of both US' awesomeness in energy independence and a tax cut for Americans... but, as the following chart suggests, there may be another - much more realistic - explanation for why oil is plunging... demand!
World GDP expectations for 2014 just tumbled to their lowest since estimates started...
[3]
Maybe - just maybe - that explains the price of oil...
Charts: Bloomberg
