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Next week, OPEC will be meeting about the price of oil: down from $147 a barrel last July to $44 today. Meantime, the price of gasoline in the US just might go to a dollar a gallon. That's good news for consumers, but trouble for global warming and international stability. Also, the White House and Congressional Democrats make a deal on the auto bailout, Illinois Governor Rod Blagojevich was scheduled back at work today, but Barack Obama wants a special election to fill his Senate seat.


Banner image: Drivers fill up at a Fastop gas station in Pasadena, California. Photo: David McNew/Getty Images


Making News White House, Congressional Democrats Make Auto-Bailout Deal 5 MIN, 48 SEC

The White House and Democrats on Capitol Hill have worked out a $14 billion bailout for GM and Chrysler. White House spokesman Joel Kaplan says they believe they've "found the right solution." That may be easier said than done, according to Senate Republican leader Mitch McConnell, who says the Senate hadn't yet seen the final version of the bill. David Shepardson reports from Washington for the Detroit News.

David Shepardson, Reuters (@davidshepardson)

Main Topic The Price of Gasoline: Good News and Bad 34 MIN, 6 SEC

Since the high of $147 a barrel in July, the price of oil has dropped like a stone, to about $45 a barrel. The Automobile Association of America says gasoline prices have dropped in the US for the eighty-second day in a row, to an average of $1.70 a gallon. Worldwide, the price of oil is dropping so fast that dollar-a-gallon gasoline is possible sometime next year. That sounds like good news, but it's the product of a global recession, which the World Bank is now calling the worst since the Great Depression. Would Americans jump back into gas-guzzling SUV's? What about energy independence and alternative fuels? Should gasoline taxes be increased to combat global warming and promote international stability?

Vincent Lauerman, President, Geopolitics Central
Robert Samuelson, Newsweek and Washington Post
John White, Clean Power Campaign / Center for Energy Efficiency and Renewable Technology (@vjohnwhite)
Toby Jones, Rutgers University
David Kreutzer, Heritage Foundation (@dwkreutzer)

Reporter's Notebook Bad-News Blagojevich Back at Work 8 MIN, 55 SEC

Barack Obama wants Illinois Governor Rod Blagojevich to resign so a special election can fill his vacant seat in the Senate. Meantime, political fur continues to fly. Blagojevich is out on bond on charges of putting Obama's vacant Senate seat "up for sale." Today the governor went back to work, with his attorney saying there are no immediate plans for a resignation. Monica Davey is Chicago Bureau Chief for the New York Times.

Monica Davey, New York Times

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