Monday, February 20, 2012

Iran Halts Crude Exports, Oil Jumps in Price!! Obama's Fault? Give me a break.

Isn't it odd how the Republicans candidates love to saber rattle and threaten Iran, knowing those threats could raise the price of oil? Funny how that works?

Even Newsmax couldn't hold back the truth about oil prices. Remember this, and a few other posts, pointing to the world markets cause for oil prices, not lack of drilling in the U.S.. Maybe the Republicans can ask big oil why they shut down refineries when supplies peaked.:
Oil Jumps to 9-Month High After Iran Cuts Supply, Predicted to Hit $150: Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program. That news came even as a semiofficial Iranian news agency reported that Tehran is considering extending its oil embargo against France and Britain to other European countries.
Fox News thought they could defend George W. Bush's troubles with high gas prices with the current argument that the GOP will use the argument against Obama. While disproving the ginned up outrage over gas prices by Republicans, they showed a few clips of the Democrats making the same argument. Wrong. Dick Cheney knew all along price could go up, reaping huge profits for big oil, if there was a conflict in the middle east (Iraq). Thank you Fox News for trashing the GOP's ace in the hole:

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