Because of Obama energy policy the price is still nearly $1 more than necessary.
I'm not sure what the point of the thread is other than the elements at play that have brought oil prices down are the same elements Bachmann alluded to -- in SPITE of Obama.
Obama is the worst economy president in history and relies on Gruberites not unlike the OP in order to hide that failure.
Really? Oh, if that's the case, what was Bush's excuse?
Historical Gas Price Charts - GasBuddy.com
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How does that explain the even higher prices of gas in August, 2008 and the steady climb from 2004 until the Stock Market crash of 2008?
Righties just have no grasp on statistics at all. Information is apparently your enemy.
You have no memory and/or have been duped by lefty media.
The rise in prices between 2001 and 2008 was a result of the expansion of the Indian and Chinese economies and their subsequent energy buying power. That put the squeeze on supply. Our drilling restrictions prohibited the US from adding to the global supply in order to help reduce the price of oil. A democrat congress's stubbornness made this most acute when prices reached $3-4/gallon. Bush's reversal of an EO combined with Congress's relenting on lifting the restrictions at the end of Sept 2008 resulted in the potential for significant supply enhancement and the price dropped like a rock. $1.35 on Jan 11, 2009 after $4+ in July 2008. At that point in Jan 2009, obama began his pronouncements of reimposing drilling restrictions in the name of looking to wind and wave energy sources and Salazar officially scrapped Bush's extensive offshore and fed land drilling plans. The price of oil and gas immediately began to rise. By the weekend after the hack's inauguration the price of gas, Jan 23, was already up to $1.79. And it kept rising and stayed up until this summer.