Old post but deserves to be re-posted again since some of us don't seem to understand that oil is a volatile global commodity....Presidents have next to no impact on fuel prices.

 

Oil is a commodity traded on the global market, and while there can be manipulation by cartels, the price of gas is generally set by supply and demand (and government taxes on gas!).  Bush having friends in the oil business doesn’t have much of an effect on the global supply and demand for oil, just as Obama’s supposed shunning of oil companies doesn’t either.  Commodities, like oil, are always volatile and respond to an almost infinite number of effects on the supply and demand.  Even major events and policy blunders like wars and “tension in the Middle East” aren’t major drivers, as long as the oil market is allowed to trade freely.  For example, if we look after 9/11 and during the start of the Iraq War, prices were lower than now.  While there’s always “tension” in that region, there was probably less a couple years ago when gas prices were high, than now with Syria, Iraq and Libya in chaos.

 

http://memepoliceman.com/was-gas-cheaper...a-or-bush/

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