Actually, the law of supply and demand is not ignored in this scenario. OPEC is controlling enough of the worldwide supply of crude to keep the prices up.....that is the sole function of OPEC, after all......remember 1973?
Yep. I don't think we'll see much of a decrease.
As soon as prices start dropping, they will screw us and hold production until prices are back up.
The only way to hit back is to drill our own oil and show OPEC that we don't need them. Even better would be to start building more power plants and using that electricity for cars. Preferably nuclear plants but we still have loads of coal to burn. New coal plants produce barely any emissions.
Hate the French all you want, but I'm jealous of their clean, cheap surplus nuclear power. The US was supposed to be this way until 3 Mile Island.