Oil has been always an issue to North Americans. Not that it is not to anyone else anywhere else. The reason is they are so dependents on their vehicles and like to drive big gasoline-eaters. I've posted a few times about ups and downs of the industry. What you never understand is the factors which are independent from the entire oil production process but have big impacts on the price.EU Parliament votes on financial assist for Greece, the price changes. One person in South Carolina sneezes, the price changes. A scorpion in Saudi desert climbs over the pipeline, the price changes and now this action by Industrialized nation and on the top of them the US, it is said has caused the price of oil to plunge. In the meantime some analysts state that this action by specifically Obama is part of a plan to help him to move himself up prior to the upcoming 2012 election in the view of American people. I don't know his popularity but I know that many people has turned his back to him since he was elected. problems like Gulf of Mexico BP oil spill disaster, health care, unemployment and so on has impacts on people's attitude toward him.
(Photo: Cartoon taken from Calgary Herald depicts the US recent action to use the strategic resources as a help for Obama in the next year's presidential election)
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