If the war and Bush are to blame for high oil prices in America; how do we explain the soaring world prices?

Question

http://money.cnn.com/pf/features/lists/global_gasprices/

Answer 1

Soaring prices (oil) are to be blamed somewhat on Bush.  HIs policies on the Middle East and war have caused oil prices to soar due to less production thanks to tension.  China and India's heavy demand for gas-oil has also contributed to high prices.

As for world prices, it can be explained by oil prices as well.  See, oil plays a huge part in prices of products across the world.  Vehicles and planes are needed to transport goods.  However, now is an expensive time to transport.  With higher oil prices, it costs more to transport, so many/all prices go up.

Prices are also up due to bad enviornment.  Drought and poor conditions have hit many nations.  So rice and food production is down.  ALong with it are increasing prices for that due to higher drought (and less production) .

Answer 2

Certainly increased consumption by China and India play a major role in prices. However, Bush policies have created uncertainty about supplies and that leads to increased price.

In addition to attacking Iraq, he threatened Iran and  encouraged unsuccessfully the overthrow of the government of Venezuela. All of these actions caused uncertainty of supply which increase price.

Answer 3

Soaring prices come from exploding populations in China and India.  The US has been soooo consumed with making sure the rest of the world is living up to our middle class standards, that we have created just that:  a middle class in what was poor countries.  They demand more now, because they have the money to do so.  DEMAND FUELS PRICES ON SUPPLY.

Answer 4

Seven years ago, ENRON convinced the Bush administration to de-regulate trading oil and food commodities at the NY stock exchange!

According to a former regulator, if the old rules would be re-established today, it would only take 4 weeks for the price of oil to significantly decrease!

Fat chance - the Bush family is making a lot of money on high oil prices.

Europe only pays half of what we have to pay for oil. Since the US government keeps printing money, it also devaluates the Dollar. The Euro used to be worth $.80 now it costs $1.60!

That forced the oil producing countries to charge us double to get the same as 8 years ago....