Twenty close of last year, the President Bush told us we are going to start looking seriously at offshore drilling, thus increasing supply, as a way of bringing down oil prices. Based solely on that move, worldwide oil prices went through the floor. Subsequent to the lecture and, President Obama told us that we were going to be doing any offshore drilling, because we needed to “save the environment”.
Since that pronouncement, the price of oil has doubled.
Does anyone suppose that there is no connection, here?