With Memorial Day in the past, some were hoping gas prices would drop. They haven't. What's going on?
OPEC today announced it will cut daily oil production by 2.2 million barrels, a response to the shrinking price of gas. And how did the market respond to the news? Crude is down.
Is it in some way ironically terrible the next OPEC production meeting's occurring on September 11th? [Bloomberg]
President Bush is in Brazil today causing a ruckus, creating traffic jams, and hanging out at at a mega fuel depot touting the new biofuels agreement between Brazil and the USA. Brazil is the world's largest single producer of ethanol, making theirs from sugary cane instead of corn. While chumming around with Brazil…