During the reign of George W. Bush, we took note several times of the dramatic increase of the price of oil – 500 percent. To be fair, I’ve resolved to make the same observation about the trend in the price of oil under Barack Obama.
At the moment that Barack Obama was inaugurated, the price of a barrel of crude oil was $42.50. Right now, the price of a barrel of oil is $52.33
That’s an increase of $9.83 – over 23 percent. Is Barack Obama on his way to an explosion in crude oil prices of the sort we saw under Bush?
Time will tell.