Oil continued to fall as Saudi Arabia refused to go along with more production cuts. They want to see how the scheduled Feb. 1 cuts pan out. Oil is at its lowest price in 19 months, and has dropped 16% this already this year. We can thank a mild winter that lowered demand for heating oil. The lower price has removed some of the impetus for Congressional Democrats’ energy bill which would tax U.S. oil production to fund investment in alternative energy. Another effect with the lower prices is reduced demand for hybrid automobiles. We might even end up fatter.