How low will oil fall? $30 is possible

How does that old children's rhyme go? "How low can you go? How low can you go?" When it comes to the staggering plunge in oil prices, analysts are saying $30 a barrel is certainly possible.
 
Great news for anyone who has to fill up their car or buy goods and services delivered by vehicles. Oil at $40 a barrel translates into a national average of $1.80 a gallon.
 
Not so great news for the oil industry, which has announced several thousand layoffs as profits fall along with oil prices. Another segment hit by the drop: Investors, who might decide to sell off their holdings, further destabilizing the oil industry, reports CNNMoney.

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