Quote:
Originally Posted by Fundguy1
Think about it gas prices were in the $1-2 a gallon range from the mid 80s to 2009. Can anyone tell me what else changed to cause them to double? In one year? I'd especially love to hear when the left was blaming bush for a short term raise in prices just a few years earlier when it didn't even get to 3$ nationally. But he was able to bring it back down to $ 1.65 when Obama took office. Bueller?
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For starters, you're trying to suggest that Presidents have heavy influence on global crude oil prices. Bush never caused gas prices to increase or decrease anymore than Obama has.
At one point under Bush's Presidency, gas did hit record highs however that was not his fault. This was due to crude oil being traded at record high rates among oil speculators all over the world, it was a bubble at the time since speculators saw it as a good hedge against inflation. As we can all recall, that bubble burst and crude oil prices on a per barrel basis and therefore, gas prices fell dramatically, this also happened while Bush was in office.
Speculators thought it was a good hedge against inflation due to increased demand for oil in places like India and China.
I don't know what's more sad, the nonsense drivel you spout, or the fact that some people actually believe you.