...is that people who won't take office for two months more are somehow driving up the price of oil?
Oil is priced in dollars. When the value of a dollar slips, it takes more of them to equal a barrel of oil.
That's exactly what has been happening. The world is looking at our debt and deficit, watching the Fed print money with wild abandon, and global national banks are starting to question the future survival of the dollar as a major currency. Undermine the dollar (as we have been doing for many years, to boost exports) and everything eventually gets more expensive for people who rely on dollars. Take a look at the price of all commodities over the past four months. Inflation is starting, as it had to with our idiotic fiscal policies.
Today, for example, the dollar is rising because of fears about the Euro, Ireland, and the apparent pending Greek financial collapse that was supposed to have been resolved but apparently hasn't. Since the Euro is falling and the dollar is rising, oil is falling.
So it has nothing to do with people who aren't even in office yet.
It's all about Economics...
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