I think you mean oil is PLUMMENTING, not plunging. I don't know if that's even a word.
It's dropping because of a lesser demand for it. Americans are saying enough is enough and refusing to pay the high cost of crude. When demand lowers, the price of crude lowers also.
I think he is using an acceptable word.
plunge (plnj)
v. plunged, plung·ing, plung·es
v.tr.
1. To thrust or throw forcefully into a substance or place: "Plunge the lobsters, head first, into a large pot of rapidly boiling salted water" Craig Claiborne.
2.
To cast suddenly, violently, or deeply into a given state or situation: "The street was plunged in cool shadow" Richard Wright.
v.intr.
1. To fall or throw oneself into a substance or place: We plunged into the icy mountain lake.
2. To throw oneself earnestly or wholeheartedly into an activity or situation: plunged into my studies.
3. To enter or move headlong through something: The hunting dogs plunged into the forest.
4.
To descend steeply; fall precipitously: a cliff that plunges to the sea.
5. To move forward and downward violently: The rider plunged from the bucking horse.
6.
To become suddenly lower; decrease dramatically: Stock prices plunged during the banking crisis.7. To speculate or gamble extravagantly.
