Quote:
Originally posted by Neilk
gaijinda,
You forgot the "fear of terrorism factor" which I have read is adding up to $15 a barrel. You can blame that on Bush for creating a mess in Iraq.
In any case, our oil producing "friends" in the middle east are laughing all the way to the bank with oil at $54+ .
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Dont believe everything you read Neilk. And dont expect the Saudis to be any better "friends" than the French and Germans. We freed their asses, and protected them for the next 60 years, and we get bubkus from them!
Oil, is the same as wheat or crushed stone. Supply and demand. Over time, that is how the price works out. The growth of the Indian and Chinese economies has done more than anything else to raise the price of energy. Dont wait for the liberal media to tell you this, as it is not a negative on Bush.
And as for the price of oil, it is cheaper (adjusted for inflation) than in 1981. As I remember - the economy under Reagan started to do pretty well, soon after that..