Oil down to $115, dollar up

As it becomes less and less likely that a Republican will be in the White House, oil continues to fall.  Gas prices may be at the $3.50 or lower range by Labor Day.  

All without offshore drilling.  

What is happening here?  The biggest factor is demand.  Americans have adjusted to high gas prices by driving less, or carpooling.  When supply remains static and demand falls, the price must fall too.  

Also, the Democratic congress passed a law to regulate commodities trading that had previously been exempt (known as the "Enron loophole").  Regulation of the speculation market may just have trigged a fall of $25.

For the record, oil has fallen by 21% over the past few weeks.

And today the dollar is up big time vs. the Euro.