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A Slick Benchmark for President Obama

Remember this number, because it’s going to serve as a benchmark of Barack Obama’s success as President of the United States of America: 42.5

The price of a barrel of crude oil as Barack Obama took the Oath of Office was $42.50.

We cannot reduce the success or failure of a President merely to this number, but it is an important diagnostic indicator of many of the challenges we face, of environment, of economy and of overall conservation of purpose.

The price of oil went up by nearly 500 percent under George W. Bush before the restraint of American citizens brought it back under control. What will happen to the price of oil under Barack Obama?

1 comment to A Slick Benchmark for President Obama

  • Tom

    The restraint of American citizens brought it under control? Since when? How exactly was that accomplished?

    No, the price of oil has more to do with banks becoming speculators in the oil markets when their balance sheets needed a boost from the tanking they were experiencing in their complete failure at mortgage lending and in the derivatives markets. It was directly due to the deregulatory policies of the past 8 years (and the repeal of the Glass-Stiegel Act under Clinton.
    All of this economic collapse is due to the undue corporate influence on our government and MUST be eliminated to ensure any kind of real change.

    They’ve kept wages down, ruined labor and imposed all kinds of terrible burdens on the citizenry over the past 2 terms (especially), and now they’re stealing our treasure (forcing our government to capitulate to their demands completely against the will of the people) to cover their one-sided policies! This isn’t democracy – it’s corporate tyranny! So we either get rid of corporate influence or we’re toast.

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