Oil Demand to Drop?

According to the Financial Times, global demand for oil may plummet over the next year thanks to the recession. If true, it could minimize OPEC cuts and further deflate the price of oil:

“The increasing likelihood of a prolonged global economic downturn continues to dominate market perceptions, putting downward pressure on oil prices,” it said, forecasting that demand would drop 50,000 barrels a day this year and a hefty 450,000 b/d in 2009. US oil demand will drop next year to the lowest level in 11 years.

It's not all good though, as oil will have to rise sometime:

Oil would return to about $75 a barrel within the next three years, it said, while food would trade 60 per cent higher than in 2003, but about half below this year’s record.

Still, it would be good news to hear that oil prices may continue to slide and nations that are hostile to us will have less money to throw around for a while.

Quote of the Day-- December 11, 2008

The city of Seattle exists so we won't ever be completely happy in America.

--Phil Hendrie

Jay Leno Moving to 10pm Slot

Even though NBC decided to give Conan O'Brien the Tonight Show, Jay Leno is remaining on the network. Despite speculation that he would go to FOX, Leno will be doing a 10pm slot on the network. With NBC being in 4th place in the ratings, this is a wise move. The new show will likely be similar to the Tonight Show and could help boost a sagging NBC lineup.

One unfortunate thing is that Leno didn't replace the hasn't-been-funny-in-five-years Jimmy Kimmel on ABC. But I'm glad to see Leno staying on television and hope that he's happy with the new arrangement.

Mets Should Sign Teixeira

With the Yankees picking up CC Sabathia, the free agent market just got a little thinner. So in this case, the Mets should try and get Mark Teixeira. The Amazin's were fortunate enough to sign K-Rod to make up for Billy Wagner, but Teixeira would give their lineup a formidable bat and would strike another blow against the Phillies.

Teixeira will turn 29 next year and will be a youthful alternative to Carlos Delgado. The Mets get an upgrade in batting average and fielding. Teixeira would make a very good number five hitter and has the tools to follow Carlos Beltran.

The Mets need to focus on their bullpen, too. K-Rod was a good start, but trading for Huston Street might be a good next step. Street is young and will add more depth to the bullpen. The Mets should look at trading for a middle reliever (Matt Capps) or two. The Mets have suffered two humiliating seasons in a row. Let's not make it a third.

Yankees to Nab Sabathia

Word has it that the New York Yankees have agreed to sign ace pitcher C.C. Sabathia to a $160 million, seven-year deal. This comes just a day after the Mets signed star closer Francisco Rodriguez to a three-year deal.

While this signing clearly boosts the Yankees, the Bombers have enough cracks in the armor to proclaim them world champions just yet. With word that Pettitte may not resign and with Mussina retiring, the pitching staff is weak.

However, there is word that the Yankees are also interested in Ben Sheets AND A.J. Burnett. If the Yankees were able to grab both of them, then they have a very good pitching staff, which could blow Boston out of the water.

The next question is if the Yankees are going to make a serious play towards Manny Ramirez, which would not only bloat their budget, but signed in tandem with three very good pitchers, would probably give them the AL East title in 2009.