Monday, July 14, 2008

Straws in the Wind

Last Thursday, the WSJ reported:

As average gas prices hit a record high of $4.108 a gallon this week, the government released new data showing that drivers have cut back their use of the fuel to levels not seen in five years.

This morning, the WSJ summarized on page 1:

The U.S. trade deficit shrank unexpectedly in May as petroleum imports fell by 10.%% and exports increased.

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