CNN/Money effectively, in the space of one paragraph, destroys every leftwing argument about the price of oil being high as GWB’s fault.
Oil prices have risen by more than one-third since the end of 2003 on worries that accelerating global demand has left supplies tightly stretched with little leeway for disruption.
What seems to be forgotten by many of the Bush haters is that the price of Oil is not set by the USA gov’t: it is set by OPEC and market forces. There is only so much pressure that gov’t can put on OPEC, lest OPEC do something dramatic (like in the 1970’s.) The other option is a military takeover of the ME, especially Saudi Arabia. That would go over well.
Government could certainly help by enforcing milage regulations on vehicles, especially large SUV’s and pickups. And, lest eanyone want to go with the “Blame Bush” theories, the rise of SUV’s and pickups as mainstream vehicles came during Clinton’s years. I am actually amazed that Gore didn’t have a meltdown regarding the poor MPG that vehicles were being produced with.
