...AND LOWER... (via Glenn Dryfoos):

Oil Falls Near $70 a Barrel, 16-Month Low, Alarming OPEC (JAD MOUAWAD, October 16, 2008, NY Times)

Oil prices plummeted on Thursday, falling below $70 a barrel for the first time in 16 months, and prompting the OPEC cartel to call for an emergency meeting next week.

The rapid decline in prices had alarmed petroleum executives and oil producers who are becoming increasingly nervous that it is undermining the stability of energy markets.

The time to deal with our dependence on a commodity owned by rotten regimes is while it's cheap--think we will?

Posted by Orrin Judd at October 16, 2008 2:48 PM