Does the Price of Oil reflect the outgoing administartion?

I’m not a big conspiracy thinker, but it boggles my mind that oil peeked at such a time while an oil guy was the US president even though people knew the economy was slowing and then dropped precipitously just prior to him turning over power.

Do you think that there is a correlation between the fact that Bush is out and oil is at its lows? And if so, how did the administration control the prices on such a big part of the world economy?

I think that there is a correlation, but I’m not sure how they did it, anyone here have a theory?


One Response to “Does the Price of Oil reflect the outgoing administartion?”

  1. KTB Says:

    The Market was "over-purchased" by several investment funds and houses. As an example, the worlds largest oil company until recently, by volume and contract, was Goldman Sachs.

    The deregulation of the Financial industry, by the Senate and Congress, and at the Presidents urging pushed their individual capitalization requirements to almost nil in every respect.

    In 2000, the market capitalization for oil, in total was 300 million dollars on a daily basis, Until November of 2008 it exceeded 3 billion.
    Market forces never drove the price. Demand dropped during the second half of 2008, the supply actually increased, and yet the price of oil rose precipitously. The usual order of supply and demand were not properly effecting the markets.

    Just prior to October, with Congressional and CFTC scrutiny, the market was deemed as reaching its limit. A mad frenzy of contract sales, and consolidation, was the result.

    It was the deregulation that caused this wild roller coaster ride. It has nothing to do with Presidential influence nor politics. Greed caused this mess, and the need to consolidate, after the housing bubble crisis, caused it to fall.

    This is what caused the