The only option for these companies is to merge and seek yet more job cuts and savings.

We're already seeing some companies yielding to pressure. But everybody is waiting for the big lady to sing, which is Exxon.

It's cheaper for companies to buy production and reserves on Wall Street than go drill for it. It's instant gratification.

The drop in prices correlates with unusually high temperatures in the Northeast.

If we don't have a particularly cold winter, we won't see prices rise dramatically.

Speculators pushed the prices beyond even the most bullish estimates, because they exaggerated (supply shortage fears), but now I think we see the party's over.