Why Oil is Cheap at $75 a Barrel

Oil? Cheap? at these prices? Here is why:

1) Demand from China and India does not seem to slow. Add demand from Indonesia, Australia and Eastern Europe, and and oil never seemed so scarce.

2) Supply is short. Resources are getting dried up with every barrel of oil thats pumped. Pair that with declining levels of reserve in the US, and an uncertainty over OPEC’s reserves, and the outlook seems bleak. To give you an idea, OPEC’s capacity has been reduced by over 15% in the last 25 years.
Some more reasons at Seeking Alpha