Saturday, November 12, 2005

A NUMBER TO WATCH

FoxNews summarizes the continuing slide in crude oil prices in a piece published yesterday:

http://www.foxnews.com/story/0,2933,175269,00.html

The last paragraph of the story is especially worthy of note:

"OPEC's reference crude basket price dropped to $51.30 on Thursday, the latest available number, only just above the $50 a barrel level that OPEC ministers have said they would seek to defend."

$50 a barrel. That's the new "floor." Dead reckonnin', that makes my gas price, which tends to be higher than the national average, somewhere around $2.50 a gallon.

We best get used to it.

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