OPEC cuts record 2.2. million barrels a day | ajc.com

OPEC move will raise oil prices From AP and AJC: “ORAN, Algeria — OPEC on Wednesday agreed to slash a record 2.2 million barrels from its daily production as of Jan. 1, while the bloc's outsiders Russia and Azerbaijan announced their own cutbacks of hundreds of thousands of barrels from the market.

Oil prices tumbled close to four-year lows after the announcement, however, a clear indication of the growing belief that the world is heading for a long and painful recession in which energy use will continue to erode.”

--- Just what we need now in this bad economy, more high gas and energy prices. Americans should cut back on car use ASAP. But this also signals a need to have fuel-efficient cars and keeps Detroit on the hook.