the 1980s, the soviet union collapsed. what will it mean now? nick butler, the former head of strategy for bp, told me we are in for a longer and more sustained period of low oil prices than in the late 1980s. why? he points to a perfect storm. supply is up substantially because a decade of high oil prices encouraged producers throughout the world to invest vast amounts of money in finding new sources. those investments are made and will keep supply flowing for years. the former head of strategy for the italian energy giant says there is no way to stop this phenomenon. he predicts that prices could actually drop down to $35 a barrel next year. a primary reason that the price decline has accelerated is that saudi arabia, the world's swing supplier, that is, the one that can most easily increase or decrease production, has decided to keep pumping.