If you’re feeling a little groggy this morning, it is due perhaps to being under-reported last night

AP article here reports out on falling light sweet crude prices. It talks about how the fall in the price of crude did help bolster the Dow before falling off to an eventual loss for the day. It talks about the volatility of the crude prices and how this drop in prices may not last, but it never talks about or gives any explanation for the drop. None. We find this amazing, of course, because its possible, just possible and not entirely in the realm of fantasy that perhaps one of the reasons could have been that Bush announced earlier in the week that he was lifting the Presidential ban on off-shore drilling. Crazy, we know.

This is all pretty simple: when the CEO of the world’s largest economy that is currently wracked by a falling dollar, plunging housing prices and ever-rising energy costs says that after nearly 30 years, drilling off-shore in specific areas is back on the table, its going to move the needle. Fact. To not even acknowledge that is to court journalistic malfeasance.