Why Oil Prices Aren't Reaching $40 Per Barrel Anytime Soon

Oil prices continue their steep decline, but made a slight rebound on Tuesday, reaching $63.38 per barrel, after touching $62 yesterday. Crude prices have been dropping largely on the heels of too much supply in the market, but analysts expect prices to stay within $60-$70 per barrel for the foreseeable future. TheStreet's Scott Gamm speaks with Jeffrey Grossman, President of BRG Brokerage to discuss his reaction to the price fluctuations seen in the oil market in recent weeks, where he thinks prices are headed and his thoughts on the United States depending less on foreign sources of oil in the Middle East and other regions.