That was how one TV commentator described the effect of the price of oil on the US economy.

"The Canadian dollar, a commodity-backed currency, first achieved modern-era one-to-one parity with the U.S. dollar on Sept. 20. The U.S. dollar has fallen 17.5 percent against the Canadian loonie this year. Canada is a major exporter of oil, benefiting when those prices rise.

"The fundamentals (behind) that drive appear to be solidly in place and will likely fuel the Canadian dollar higher in 2008," said Michael Woolfolk, senior currency strategist at the Bank of New York. "If this continues for another year, there will be growing concerns about the currency's valuation."

Two gas stations near me are always the same price. Last night I drove by, one was $2.99, the other $3.05. Clearly the first hadn't gotten the word yet.

Arf