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Crude awakening: $50 oil is more than an annoyance.
The following editorial appeared in the Dallas Morning News on Wednesday, Sept. 29:
X X X
Whew: $50 a barrel.
Oil analysts are using terms like "psychological milestone" and "psychological barrier." We on the consuming end have a different term in mind: bummer.
The prospect of crude oil hovering around $50 a barrel and gasoline near $2 for the foreseeable future is bad news all around. It impedes America's economic recovery, upsets the geopolitical apple cart and takes a big bite out of the average family's pocketbook. And just as winter, with its heating bills, is on the way.
But there's a bigger picture here. Consider these ...
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