(Reuters) - Oil prices soared to the highest level in 25 months on Wednesday, rising for the seventh time in eight sessions as U.S. government data showed an unexpected heavy drawdown in crude inventories last week.
Did you take note of the length of time prices have soared to highest level? 25 MONTHS folks. Guess how many months President Obama and the Democrats were in charge of the White House and Congress? Duh....25 months (if you include the two months after Nov 2nd election in 2008.
If you'll take a look back during that election cycle you'll see where prices began dropping that Sept of 2008, just in time to make voters a bit happier with Republicans (but not soon enough).
What's happened to change things? Republicans took control of the House just a few days ago and within two days in my home town the prices jumped 10 cents a gallon, that's what happened. Now we're hearing oil prices are soaring again. And of course they'll have all sorts of reasons for it, in this case it's the dollar value.
Truth be told, it's because they (the Republicans) have control of the House where investigations start. Price gouging won't be investigated now -- oil companies (and their owners like the Bush/Cheney clan) are throwing parties again.
Don't say I didn't warn you.