Shoulda, Woulda, Coulda Kept the Price of Oil Higher

Renaissance man and strongman Hugo Chavez reveals his expertise in natural resource economics and declares that the price of a barrel of oil "should not fall below 60 dollars. That is a fair price."

November delivery crude oil did fall to $58.70 on the New York Mercantile Exchange, showing that Mr. Chavez might need to work on developing a more rigorous philsophical defense of how his "should" should interact with economic reality--or rather a world thirsty for more affordable oil can shout back to Chavez, "don't should on us!" Domestically, pump prices are now averaging $2.31 a gallon.