Comparatively few Americans regard olive oil as indispensable to their tables, nor is the olive industry indispensable to the U.S. economy. Some 3,000 California and Arizona olive farmers supply only 10% of all olive oil consumed in the U.S. But when oil prices fell recently because of record foreign and domestic crops, the olive growers cried for help—and the sharp-eared Department of Agriculture heard it. Last week the department announced that it would support the price of domestic olive oil at $2.50 a gallon, the current price.
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