Originally Posted by AmberThe Bobcat
You know they will. They have to blame someone else when they fail
However, the fact that the price of gas/oil has fallen, has nothing to do with Bush or BHO. It has everything to do with the stock market falling. With the market falling, people are selling off their oil stock, the reason the price was high to begin with. With so may people buying up oil futures, it was creating a shortage of oil, even though there really wasn't a "real" shortage. Now that everyone is selling, it has created an oil excess and the price has fallen since there is now more supply than demand. Just like with anything else, when the supply exceeds the demand, prices fall. But somehow, when the price starts to climb again, the dems will blame Bush for this
To a certain extent, I agree about the effect of speculation on the price of crude oil and related energy futures. It will likely turn out that a few people get fined or censured for manipulation as well. IMO, crude does not fall because
the stock market falls; they're both falling because of very weak global economic outlook. However, I still stand by my thesis that oil was just one of the commodities that rose in U.S. $ terms because of the fall of the dollar. Crude is now falling due both to the outlook for weak demand AND the rise of the dollar. The correlation without overlay is quite obvious.
For those to whom charts are not gibberisih
The U.S. Dollar index (10 year chart)
Crude Oil (10 year chart)
Gold (10 year chart)
As you can see, gold and oil look VERY similar, and basically are inverse to the dollar index.