Ol prices are coming down. Don't believe the Saudis' claim that they think prices are too high. They love high prices. They could have lowered them any time in the last four years.
Prices are coming down to let Barack Obama claim credit. They know that if Mitt Romney is elected he will drastically increase production and prices will drop dramatically. History proves this.
About three months before George W. Bush left office, gas was about $3.80 a gallon. He took restrictions off production, and prices fell to about $1.80 a gallon before Obama took office. Within 60 days, Obama reinstated and tightened restrictions, and the price has been going up ever since.
The Saudies wont be able to charge such high prices if we can produce oil cheaper ourselves.
Obama will never increase production. Everyone knows this. If Obama is re-elected prices will go even higher.
- Jim Marrant, Calumet City