According to the Associated Press, falling oil prices are affecting the economies of several oil producing nations. More…

Leading the charge about the ill effects of lower oil prices are Russia and Venezuela, of all countries.

Putin says Russia might have to cut government spending as it's suggested the country needs a price of $104 per barrel to balance the budget. At roughly $85 a barrel, they've got some cutting to do.

The Venezuelan foreign minister wants an emergency meeting of OPEC to allow producing countries to cut production in an effort to keep the price at $100 per barrel.

Isn't that a fine how'd ya' do. Governments want to enforce price controls, but for higher prices.

Reductio ad absurdum…