Actually quite a lot has happened to gas recently - above all, the summer mix of gas has ebbed. Apparently there's a special mix used in summer that's more expensive, and every year it spikes before it enters the market and stays high a while, then falls again. Part of the fall we're seeing can be attributed to that, but not entirely. The rest is general instability - including in Mexico by the way.
At the end of 2005 I was curious where oil actually comes from so I compiled a list. Here it is if anyone's curious:
1. Canada 17.5%
2. Mexico 17.2%
3. Saudi Arabia 15.3%
4. Venezuela 13.9%
For those keeping track that's over 60% of our oil, with only 1 Arab country. The rest of about 96% of our oil, in order:
* Nigeria 9.9%
* Iraq 6.2%
* Angola 3.0%
* Colombia 3.0%
* Kuwait 2.5%
* Ecuador 2.0%
* Norway 1.6%
* UK 1.4%
* Algeria 1.3%
* Brazil 1.1%
You can find the source of these numbers at:
http://www.eia.doe.gov/pub/oil_gas/p...f/table_21.pdf
Mexico had a crisis on its hands due to its elections which are only now stabling out; and, we get some gas from ourselves, including the Alaska pipeline that was a disaster earlier in the year but whose effects have now subsided. So, it does make some sense for gas prices to fall now, it's just a little too convenient for me that they're falling *right* now.