Obama Getting Whacked By High Gas Prices

The old saying goes that people vote their pocketbook and apparently they are sick that their pocketbooks and wallets are getting emptier by the day. Obama trotted out his interior secretary to try to calm fears after brutal poll results were released (results that are skewed in Obama's favor):

Interior Secretary Ken Salazar took to the White House briefing room Monday to defend President Obama’s energy plan after a new poll suggested high gas prices are eroding the president’s approval numbers.

Salazar insisted that Obama is reviewing short- and long-term actions to lower gas prices, while also noting that there are no quick fixes to the problem.

“All options are on the table because the president obviously feels the pain that the American people are facing,” Salazar said when asked if the administration would tap the Strategic Petroleum Reserve, a 696-million barrel emergency oil stockpile.

Salazar is a lying bastard, all option are not on the table and never will be. Obama will play the SPR card and use it for short-term gain but prices will not go down unless he announces a broad initiative that really throws everything on the table. Approve the XL Pipeline, open up offshore drilling, allow drilling in ANWR and cut federal gasoline taxes by half would be a first step towards showing us that he is serious.

Tapping the reserve is a ploy to only lower prices temporarily according to candidate Obama so what's the use? Plus, it's been Salazar's MO to restrict drilling wherever and whiner he can so why trust him now?

Obama will pill out any trick he can when he realizes that high gas prices will sink him faster than any other issue save another terrorist attack on our soil and Lord knows we don't need that.

Obamanation: Gasoline Prices at Record Highs

The Obama administration has no energy policy but then they have no real policy on anything else so no surprise. Yes, they talk of green power and electric cars they subsidize but have no coherent strategy for keeping fuel prices stable. Recent reports predict increases throughout the summer and Saudi Arabia is about to choke back on the taps guaranteeing an even quicker and greater increase.

Obama is complicit in this as he has destroyed American power in the region, has botched the Iran situation from day one and has neutered America's oil exploration and extraction capabilities. Not to mention the XL Pipeline debacle in which he kowtowed to the environmental lobby.

America is sitting on pools of oil that we cannot go after and massive amounts of natural gas that will allow us to flood markets thus reducing the price of oil but we can't export due to regulatory and other restrictions. Imagine if we export natural gas in large quantities and it is used to fuel power plants, thus reducing emissions while limiting the use of petroleum as a fuel. It's win-win and we get to give the Russians the finger at the same time.

It's time we get a rational, pragmatic energy policy but when we have a present who develops a budget that is beyond laughable, I'm really not expecting it.

Another Look at Canada

America's relationship with our northern neighbors has always been an interesting one. Canada has always just been there, not really in our thoughts one way or the other but pretty much universally liked by us. We love Canada but we just pretty much make fun of the people whenever we can:

Royal Pudding
Get More: SOUTH
PARKIke Broflovski,Terrance,Phillip,more...

But something has changed up there why we were preoccupied with trying to survive the last three years under Obama. The normally socialist-minded Canadians have gone all capitalist and free market on us. While we spend and spend while creating no new jobs, they are aggressively cutting costs. When the world was melting down, they kept it steady. While we debate the environmental impact of tracking and our government subsidizes Chevy Volts that no one wants, the Canadians have been developing new technologies to safely extract oil from tar sands. While Obama nixes a huge job-creating pipeline that would ensure us clean, ethical oil for decades, Canada pursues other buyers while still trying to make us see the light. While we beg China for money, PM Stephen Harper is forging strong business ties with China and opening markets to sell his nations products.

Americans don't really know much more about Canada than it's the home of hockey and curling. But while we've been blissfully unaware, the former beta male is becoming a full blown alpha while leaving us in the dust. Harper has sold Canadians on his brand of conservatism and they are a prospering group of provinces because of it.

Obama Gets Outsmarted Again

When the Smartest President in History (TM) was inaugurated, many of us looked at his policies on energy. We knew it would be green jobs based even though green jobs have never really been defined. We knew he would possibly attack coal-fired power plants and natural gas, which he has done through the back door using the EPA. We suspected that he would give huge incentives for electric vehicles as well. But none of us ever saw the utter failure that his energy policies would become in just three years.

This week alone he has managed to alienate one of our dearest allies and neighbors by slamming the door on the XL Pipeline project that would have given us ethical, dependable oil for decades and now he was given the finger by the world's newest emerging economy; Brazil:

BUENOS AIRES — Off the coast of Rio de Janeiro — below a mile of water and two miles of shifting rock, sand and salt — is an ultradeep sea of oil that could turn Brazil into the world’s fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.

The country’s state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the country’s oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.

The United States wants it, but China is getting it.

Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.

The deals are part of a growing oil relationship between the two countries that, thanks to a series of billion-dollar agreements, is giving China greater influence over Brazil’s oil frontier.

Let's go back to March, shall we? Obama essentially scuttled US drilling and instead pushed hard for Brazil's right to do so. He befuddled energy policy experts and put all of our eggs in one basket by cozying up to Brazil who then decided that Obama was not the man for them and ran off to make a deal with the Chinese. I guess having our next enemy edging into our hemisphere to loot natural resources is just A-okay with the Obama administration.

So let's summarize this. shall we? Obama sucks up to Brazil while simultaneously squashing our own oil exploration business. Brazil says no thanks and makes massive deals with the Chinese who will definitely consider this an embarrassment for the US. China edges in and essentially has cornered the market in a part of the world that we once threatened to go to war over if anyone tried to exert influence. Canada came calling and offered us a clean, safe supply of oil that would travel by pipeline to our refineries, thus reducing the amount of energy used to ship it by truck or boat. Obama grovels to his green constituency and quashes the pipeline deal. Canada is now talking to China about buying the oil that was almost given to us.

In other words, Obama has gone from making us the powerhouse in the world of oil refining and oil exploration into a second-tier player. I guess with Obama, losing out to the Chinese in every arena we challenge them is good for America.

More here.

Obama Proves His "Laser Focus" on Jobs was BS

Remember how Obama kept saying he was going to be focused constantly on jobs and do everything possible to create new one? That turns out to have been complete bullshit:

the Obama Administration rejected the controversial Keystone XL pipeline project on Wednesday, scuttling a key energy initiative that would have created an influx of badly-needed U.S. jobs, but one that has also riled environmentalists.
The news, which was first reported by FOX News Channel, sparked a fierce response from Republicans and proponents of the project.

The White House, which faced a February 21 deadline to make a final decision on the project, blamed Republicans for forcing its hand.

"The rushed and arbitrary deadline insisted on by Congressional Republicans prevented a full assessment of the pipeline’s impact, especially the health and safety of the American people, as well as our environment," President Barack Obama said in a statement.

No, it wasn't the GOP forcing his hand, it was environmentalist's forcing his hand. He looked at the jobs situation and saw that it isn't going to get better and possibly may get worse. That left a decision; do what's best for the American people and okay a project that would have put thousands to work immediately or pacify a core constituency. For once he didn't vote present on a hard vote but instead voted against the majority of Americans and voted for his own self interest.

The pipeline was just about as "shovel ready" as any job could be and much more ready to go than any of the stimulus projects were. It would have ensured energy independence and allowed us to buy oil from a friendly neighbor and not have to trust the gouging Saudis or pray the Straits of Hormuz remain open and the Iranians don't restrict the flow.

This was a sop, plain and simple. A sop to his cronies in the environmental lobby.

Nice of Obama spokesman Jay Carney to twist the Nebraska governor's words to give himself cover too.

Exploiting a Disaster

George W. Bush had exactly two days before the media slammed him for his response to Hurricane Katrina. It was within a week that IQ-challenged Kanye West noted that Bush "doesn't care about black people". Regardless of he fact that the preparations for just such a catastrophic event was the responsibility of then mayor Ray Nagin and Governor Kathleen Blanco, the media spun it as George Bush personally ignoring a ruined American city. They printed every vile rumor (rapes in the Superdome, etc. incidentally, reported by Nagin) and neglected the video evidence of NOLA police looting stores and failing miserably in their duties because it didn't fit the narrative.

So now we have Barack Obama really ignoring a major disaster that could have been prevented or at least contained if he had qualified people in place or took a few minutes away from playing golf to learn what response was warranted. All his talk of being on the case from "day one" is bullshit in the extreme. He wasn't even clear on whether or not his MMS head was fired or quit...really engaged Barry. If they had been, the oil never would have reached the shores of Louisiana. The incident happened in federal waters and required a federal response. With the authority granted the federal government under the Oil Pollution Act of 1990, the regime could have taken the lead and brought in knowledgeable people instead of relying on an incompetent political hack who allowed her organization to not only shirk their responsibility but watch porn and take favors on the taxpayers time.

When you've lost Chris Matthews and his daily knob-slobbing of Obama, you've definitely done a piss poor job of leading during a time of crisis.

For the record, he has taken definitive action on one front; he's added to our energy crunch by canceling off-shore lease sales.

Tuesday Night News and Notes

Here's the headlines and must reads:

-Actor Jon Voight lays it out against Obama in searing fashion. Nice career you had, Jon:



-Frank Gaffney on America's first Muslim president.

-Sens. Lieberman and Graham threaten to shut down the Senate over release of "torture" photos.

-Joe Sestak looks as though he's going to give the Dems the finger and challenge Arlen Specter in the Democrat primary next year.

-A bleak future: double-digit unemployment, inflation on the horizon and now surging oil prices. It's going to be a year before we see signs of a recovery.

-Iranians just not feeling the love for Obama in spite of his groveling and general lap dog approach to the Mullahs and Ahmadinejad and the medias deification. Who'd have seen that coming?

-Israeli's not feeling the love for The One either. He's alienating everyone. Is there anyone happy with him in the world save Kim Jung-il and Hugo Chavez?

-Biden the buffoon is at it again. imagine if Bush had made 1% of the gaffes this dude does.

Don't Blame Canada: Obama Alienates Another Ally

This time it's one we can't afford to rile up:

WHISTLER, British Columbia (Reuters) - Canadian municipal leaders threatened to retaliate against the "Buy America" movement in the United States on Saturday, warning trade restrictions will hurt both countries' economies.

The Federation of Canadian Municipalities endorsed a controversial proposal to support communities that refuse to buy products from countries that put trade restrictions on products and services from Canada.

The measure is a response to a provision in the U.S. economic stimulus package passed by Congress in February that says public works projects should use iron, steel and other goods made in the United States.

Remember during the campaign when Obama talked out of both sides of his mouth and made Canada look stupid? I do as well. But this is bigger and can potentially be a huge detriment to relations between us and the canucks while undermining our economy even further.

Canada supplies us with the most oil of any nation dwarfing what we receive from Saudi Arabia and the rest of the Persian Gulf region. A trade war with our largest oil supplier when we are curtailing domestic production is just plain lunacy. Obamanomics in action I guess.

Just another day in Obamanation where hope and change are the buzz words.

GOP Gearing Up For Climate Change Battle

The two central issues facing the GOP right now are universal health care and global warming climate change spending. With the US credit rating dropping like a stone and enormous amounts of money still needed to pay for the two Obama programs, the GOP is starting to form a lucid battle plan.

On climate change, the Republicans are playing on the memories of $4 gas we experienced last year and using that to fight the Obama global warming agenda:

Republicans believe that rising gas prices are their trump card against a Democratic-sponsored climate change bill.

The GOP is struggling to regain footing after two successive electoral blowouts, but party leaders are relishing an opportunity to debate what they call a “national energy tax.”

The Democrats’ plan of moving a cap-and-trade bill this summer plays into GOP hands because as the cost of gasoline spikes, so does the public’s awareness of energy prices, Republican leadership aides say.

The prices of everything will rocket up once inflation kicks in but gasoline is an easy one to focus on as people fill up every week and see the prices going steadily north. If we approach $3 a gallon, most people will listen and the passage of any legislation raising prices will be vehemently fought. The GOP needs a clear, coherent strategy that conveys to the public exactly what the Obama plan will cost.

The health care battle will be tougher but this one is a good beginning.

Update: Oops, spoke to soon. Rep. Jeff Flake is signing on to a carbon tax with other Republicans. What the hell are they thinking? Count on the GOP to screw up any advantage.

Obama Admin Say No To Huge Oil & Jobs Source

Not surprising yet disappointing just the same:

Institute for Energy Research (IER) president Thomas J. Pyle issued the following statement today after the Interior Department announced its plans to withdraw from consideration acreage in Colorado, Utah and Wyoming where research and development of a small portion of our nation’s homegrown oil shale reserves had previously been scheduled to take place:

“Earlier this week, Secretary Salazar suggested America’s massive and homegrown reserves of oil shale held ‘great potential.’ Unfortunately, the Interior Department’s decision today may help ensure that potential never becomes reality – in the process, locking-away an American energy resource larger than the total reserves of the entire Middle East.

“At a time of great economic uncertainty, with millions of Americans out of work and state budgets stretched beyond their breaking point, responsible development of America’s abundant shale resources could be a way out of our current condition, and a way back to a better one. The Interior Department’s announcement today effectively forecloses that opportunity.”

I see why Salazar would do this; I mean the potential for thousands of jobs, massive amounts of equipment that will need to be procured helping manufacturing, energy independence and low fuel prices must always be trumped by environmental concerns, right?

Here we are in what Obama claims is the worst economy since the Great Depression and his administration is intentional stopping industry from creating a viable and lucrative new energy sector.

I'm felling all hopey and changey, y'all.

Via: Instapundit.

Wednesday Evening News and Notes

Another beautiful day in San Diego.

Here's what's happening in all corners of the globe:

The hopelessly anti-Israeli BBC fights to keep a report showing they are anti-Israel secret. They've spent a good deal of forcefully-paid taxes to fight it too.

Oil tumbles to under $36 per barrel. That's $0.86 per gallon. How's that taste, Hugo? Chavez just may be Ceaucescued in a short time.

Reid and Pelosi are in a cat fight. Watching these two "leaders" argue should make for entertaining theater. Grab me the popcorn. The pic at right is the room where the Dems will sentence the US economy to death. Might as well save it for posterity purposes.

Voters believe they have a better idea what to do with their money than Congress. That's the classic definition of Conservatism by the way.

Idiot finds an intellectual and ideological soul mate in Keith Olbermann.

The Changing Global Warming Battle

It seems that Al Gore is losing hearts and minds when it comes to perpetuating the global warming swindle:

Forty-four percent (44%) of U.S. voters now say long-term planetary trends are the cause of global warming, compared to 41% who blame it on human activity.

Seven percent (7%) attribute global warming to some other reason, and nine percent (9%) are unsure in a new Rasmussen Reports national telephone survey.

The consensus has been trending that way and now people are finally getting their info from sources other than the MSM. Temperatures have been trending down for a decade and, as I posted earlier, the ocean temperatures have gone down as well. Granted, it's winter and a brutal one at that and the results may reverse when it's 95 in August but I think us sceptics are finally getting through the flack thrown in our way by those making who've created an industry around the issue.

There's still a lot of work to do as people still believe that global warming is occurring, at least the bulk of people are now blaming someone other than industry and autos for it.

I still am a believer in the fact that we need to increase fuel economy and seek out alternative means of producing electricity and fueling vehicles because of our foreign dependence on fossil fuels--a condition that will lead to further entanglements. Yet we also need to increase domestic production of natural gas, crude and push for a new generation of nuclear production.

Perhaps now we can stop seeing Al Gore's hideous mug all over the place.

These are baby steps but steps in the right direction all the same.

Via AmSpec which has this must-read on the issue.

Tuesday News and Notes

Headlines and interesting stories from around the web:

Oil is now around $37 a barrel. Tim Blair gloats at the expense of Bill Moyers, which is alway funny.

Charles Johnson is tireless when it comes to uncovering fauxtography and faux videos. It's good to see him get some pub.

Mmmmm...Raccooooon. It must have been a slow news day at McClatchy.

Rest assured that neither Bill Clinton or Rod Blagojevich can get away with this defense.

Speaking of LGF; go now and vote for the Fiskie nominee that signify the Idiotarian of the Year. The MSM is in the lead but with the year they've had, it's kind of like rubbing salt in the wound so I went with Al Gore. He's had a bad year with the whole global warming thing looking more and more inane to a large swath of the nation but for all he's put us through, there's not enough salt in the Pacific Ocean to rub in his open sore.

Obama Disses Base Again

Obama once again gives his base the finger with both hands:

CHICAGO/WASHINGTON (Reuters) - President-elect Barack Obama is not planning to implement a windfall profit tax on oil companies because prices have dropped below $80 a barrel, an aide said on Tuesday...

Obama, who signaled early in his campaign for the White House that he would take an active approach to oil markets as president, had planned to use the revenue from a windfall profits tax to fund a tax rebate for low- and middle-income families struggling with high energy prices.

For crying out loud, the way oil has fallen, he's going to be bailing them out soon.

So Obama once again plays Lucy to Charlie Brown and pulls the football out again. As expected, they aren't handling it so well.

Obama seems to be saying what all libs and Dems say once they've been elected: "Thanks for the money and your vote now screw you...but give me more and vote for me in four years". Suck on that lefties.

Dow Closes Up Nearly 900 Points

The buyers were back with a vengeance including bidding up two of liberal America's most hated companies: Walmart and Exxon.

we will weather this storm and buyers will return in force once things settle out. The dollar was up dramatically against the Yen.

Also, the White House warned banks that hording money given to them in the bailout scam will not be tolerated.

Let's let the markets work things out as they always tend to do.

Calling the Dems Bluff: GOP Should Propose "Green" Jobs

The Democrats have been calling for so called "green" jobs for awhile now yet haven't been too precise in defining exactly what those jobs are. I think it's time we define those jobs for them.

We can knock 1% off the unemployment rate immediately by fast-tracking these projects and it will have an affect in all areas of the country.

First, anyone with a half a brain knows that we are going to need oil for the foreseeable future--I'd say at least thirty more years for diesel, jet fuel, home heating oil, solvents and other fuels used by power plants such as #6 fuel oil. Gasoline use will be severely curtailed in fewer years based on the newest production vehicles coming on line. We should propose a 10-year plan to extract all the oil we can in the most environmentally safe manner science and cost effectiveness allow. Second, we set out an ambitious plan to build new, high tech refineries in every region of the country, for instance: North Jersey/New York, South Jersey/Philly/Delaware, Baltimore/Washington, Boston, Chicago, etc. Say thirty new refineries using the best available technology and designed to meet the strictest environmental standards (see this proposed refinery in S.Dak). The refineries will be able to handle light, sweet crude, high sulfur oil such as that from Venezuela as well as oil sands or shale oil (as much as I hate the bailout bill, there is some good in it). The trickle-down effect would be dramatic as suppliers would immediately revamp and ramp up to supply all the parts needed. The government or whatever banks remain after the financial meltdown offer the oil companies loans at a fair rate and since we know they are much more solvent than the financial sector, those loans will be paid back.

The construction would take three to five years for each facility and would shore up a flagging construction industry at a time it's sorely needed. The Dems would face fierce blow back from the labor unions were they to fight this as they are starting to see huge percentages of their membership "sitting on the bench". Non-working members means no money flowing into the unions, which means that union leaders will have to explain why they are still raising their salary while the rank and file are sitting home out of unemployment benefits while still having to pay inflated dues.

Next, we push hard for new nuclear power plants throughout the country but allowing the individual states the right to say yes or no to construction. Again we streamline the process to ensure the newest technology will be utilized while also cutting the red tape for approvals. Today's plants are smaller, more efficient and safer. We also set strict security guidelines that would make them safer than any existing facilities in the world. With the anticipated opening of the Yucca Mountain site, we have a disposal option for spent fuel available soon.

Next we push for the creation of a natural gas pipeline that can distribute natural gas around the nation. It's clean and plentiful.

Finally, we should propose to shore up the existing electrical grids we have and build or repair those that are in poor condition. A joint effort between the various regional utilities and the federal government would go far to attaining this goal. Again, the loans will be at a fair-market rate and the government could guarantee a portion if need be (but only a portion).

Add to this idea the construction of more wind energy facilities, solar collection centers and research the idea of hydro power through tides or other water sources, we could put a good amount of Americans to work quickly on long-term projects.

FDR did this in the 30's and 40's but paid with government funds, I would propose it be accomplished all with private funds with cooperation between banks, energy companies and the various agencies of the government that stand in the way of progress as a mater of course.

How to Keep Hugo Chavez in Check

One of the best editorial pages around is at Investors Business Daily. Today they have this on Venezuela.

Communist dictator Hugo Chavez has been living large these last few years thanks to US oil dollars. He's managed to persuade a good-sized portion of South and Central America to follow his communist ideology through payoffs and support of opposition groups. It seems our only true ally is Colombia led by Pres. Uribe and who knows how long he'll remain one the way the Dems have treated him.

That said, Chavez lifeblood is oil and oil profits. Take away his massive oil profits and he'll be Paraguay with a coastline. Fortunately, we're seeing that start to happen. Oil prices have been declining steadily as markets work to correct themselves as they always have (I paid $3.07 for regular unleaded this morning) and the steady down pressure has affected Chavez' bottom line.

Here's where we can hit him hard. Chavez exports over 60% of his oil to the US as we are among the few nations that can easily refine their oil because of the high sulfur content. Let's cut him off. Venezuelan oil accounts for only 11% of US imported oil, a minimal number that is probably even lower at present. We boost production within our borders and on the continental shelf and watch his socialist paradise crumble into the Caribbean.

We don't have to fight a war by proxy like we did in the 1980's, all we have to do is hit him in the wallet and the violently oppressed (and murdered) insurgency will spring to life. Chavez' rule is a house of cards supported by high oil prices. He lacks the clout to keep prices high and market forces--capitalist forces--will work to steadily reduce the price per barrel.

It's well passed time to deal with this murderous, communist pig and drilling more domestically will be the easiest way to finish him off once and for all.

Sarah Palin on the Environment

She seems pragmatic about environmental issues as her state depends on oil and environmental tourism. She has the job of balancing both issues and seems to be handling it well. Two quotes give and idea of just what her poitions are:

I'm keenly aware of sharply declining production from North Slope fields. The amount of oil currently flowing through the Pipeline is less than half of what it was at its peak. We must look to responsible development throughout the state--from the Slope all the way down to Southeast--every region participating! From further oil and gas development, to fishing, mining, timber, and tourism, these developments remain the core of our state. We provide stability in regulations for our developers.

Source: State of the State Address Jan 17, 2007

The standard should be no different for industry. Ironically, we're trying to convince the rest of the nation to open ANWR, but we can't even get our own Pt. Thomson, which is right on the edge of ANWR, developed! We are ready for that gas to be tapped so we can fill a natural gas pipeline. I promise to vigorously defend Alaska's rights, as resource owners, to develop and receive appropriate value for our resources.

Source: State of the State Address Jan 17, 2007

In other words, she knows that a balance must be struck, a position that will rankle many environmentalists but she wouldn't have attracted them anyway. She sees that Alaska must maintain it's natural resources but also use those that they have available to prosper. In other words, the exact approach that we should be taking in all 50-states.

Monday News and Notes

Links from around the 'Net on this beautiful, late summer Monday:

Domestic natural gas production is booming, driving down the price at a crucial time. More of this please and add oil into the mix.

A very interesting view of how we see ourselves politically.

An Israeli company believes that oil lies below the Judean Desert, environmentalist's don't want him to be proven right.

Every simple-minded person like socialism...at least until they have to live under it or next to it.

PA Governor Ed Rendell spouts off about Obama, Hillary and the media. Biden is just like Rendell without the brain.

Dollar Gains, Euro Shrinks, Oil Plummets

I'm not quite ready to concede that the oil bubble has burst--especially with Russia and Georgia in a shooting war--but things are pointing in a better direction:

If the trend continues into September at anything like the same rate of descent, most of the inflationary spike of the past 12 months will miraculously have been sliced away. This is a dramatic reversal, and it is worth trying to work out why it is happening and what it means.

Just possibly, it means that what investors refer to in shorthand as the great "oil up" story has finally revealed itself not as the fundamental reflection of scarce supply that its adherents liked to claim, but as a simple, speculative bubble that was always going to burst.

Falling oil would help out some hurting sectors of our economy--namely construction and the airlines.

As expected, plummeting oil means a hard-hit Euro and increasing dollar:

Europe's shared currency declined 1.9 percent to $1.5031 at 11:42 a.m. in New York and reached $1.5005, the lowest level since Feb. 27, from $1.5325 yesterday. It fell as much as 2.08 percent, the biggest one-day drop since Sept. 6, 2000. Against the yen, the European currency traded at 165.51, from 167.70. The dollar rose 0.5 percent to 110.07 yen after touching 110.08, the strongest since Jan. 10.

...Crude oil, metal and crop prices fell as the dollar climbed, reducing the appeal of commodities as a currency hedge. Oil has declined to $116.11 a barrel since touching the record of 147.27 on July 11.

Almost unanimously good news for the US except the possible effect it may have on Europeans traveling to America for vacations. This is anecdotal of course, but the strong Euro allowed many more Europeans to go to Orlando, FL when I visited in December than I'd seen on previous visits and they all said it was because of the exchange rate.

Perhaps we might beat this downturn without actually going into a recession.