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tbrandel said, "While I agree that the officiating mistakes in the OU-Oregon game did not reach historical or biblical proportions, when you examine what's potentially riding on that game, I can't help but agree with the OU people. Because there's no playoff system in college football, one loss essentially means you're out of the running for a national championship. Not that I think OU has the firepower to contend for a national title this year, but they are certainly among the top 15 or 20 teams in the country. That loss effectively dashed their hopes at a national title, and seriously dented their hopes of a BCS bid -- and all of the money/exposure/hype/recruiting value/alumni support/etc. that come with a BCS bid."
One loss eliminates a team from the BCS title game except when it doesn't. Since 1998, 4 of the 8 BCS title games have included a team with one loss (and both teams in the 2003 season, a game that included Oklahoma, no less, and a season with two champions, each with one loss).