The following are editorial opinions from newspapers from around the world which may be of interest to Royal Gazette readers.

Paevaleht, Tallinn, Estonia,

on the price of oil

It was only in July that the price of "black gold" was quoted — at 147 dollars a barrel — three times higher than today. The fall in oil price has to do, first and foremost, with market reactions to lower growth pace of the world economy.

While the fall in oil price is undoubtedly cheerfully welcomed by consumers, one should keep in mind that the absurdly steep rise in oil price during the first half of the year is the main engine that has driven inflation.

Also, there is a fear that the fall in oil price could be bad news for the environment as many consumers may now reconsider plans to dispose their car — something that was seen by many as a sensible move when oil price was at its peak.

Higher world market prices for commodities such as oil is often used as a justification for hiking prices for local products and services. But when world market prices fall, it seems this reduction is rarely transferred to local prices in, say, cab rides or bus travel.

Knoxville News-Sentinel, Tennessee, on Congress

Congressional lame-duck sessions are notoriously unproductive, and this one is no exception. The Democratic leadership came back after the election with three goals — a bailout for the automobile industry, a second economic stimulus package and an extension of unemployment benefits.

Only the relatively uncontroversial granting of a three-month extension of the benefits passed as Congress was leaving town for Thanksgiving recess. ... The problem with lame-duck sessions is that the lawmakers who are retiring or have lost their seats have no incentive to be accommodating while the victorious party has every incentive to wait for the new Congress to be sworn in.

The lawmakers deadlocked on an auto industry bailout, with Democrats generally wanting the money to come from one source, the Republicans generally from another, and neither of them happy about a plan for a turnaround by the Big Three. ... There was a generational change, but it was due to outside factors like the actuarial tables and the criminal courts.

The Senate's longest serving Republican, Ted Stevens, lost his bid for re-election, saving his colleagues from expelling him for his conviction on corruption charges. Stevens is 85. ...

The House removed another long-serving lawmaker, Rep. John Dingell, 82, as chairman of the House Energy and Commerce Committee, where he had been either chairman or ranking minority member since 1981.

He will be replaced by Rep. Henry Waxman of California's Third District. Reporting on the change, The Washington Post enthused that Waxman's "victory signalled the rise of a young, more environmentally conscious party." Waxman is 69.