Thursday, December 18, 2008

It might be tempting to say that this was great news...

...But it's not. I hate to be a pessimist, but I think this is very bad news indeed.

Oil drops 9 percent as demand outlook overshadows OPEC

I paid $1.39 a gallon for gas last week. And, as is the case with everyone else, I like paying that a whole lot more than I like paying $4+ per gallon.

But on the day after OPEC cuts production by 2 million barrels per day, when the Price of Oil falls 9%, we're seeing our economic House of Cards fall right before our eyes.

Buckle up, kiddes. It's going to be a rough ride.

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