OPEC to cut production

This is actually a good thing, keeping prices somewhat high will of course hurt economically but its for the better. Keeping the price of oil up will continue the pressure for people to conserve and develop alternative energy technology. If we have oil and gas prices crash too far over the next year or so a lot of alternative energy companies that are struggling enough with the economy in general, credit crisis etc will fall flat on their faces. That sets us back a ways on the ultimate need for renewable/alternatives to liquid oil. I think oil fixed at around 100 dollars a barrel would be great for the time being. Long term its only going to get much much much more expensive as reserves are depleted and economies and thus demand continues to expand at exponential rates.