Friday, July 14, 2006

Price of Oil When Bush Entered Office

They didn't leave a name but someone asked what the price of oil was when Bush became president. I checked a price graph on the Oil CEO and it looks like the price of oil in January 2001 when Bush took office was $28-30/barrel.

The lowest price in Bush's presidency was about $18-20/barrel in December of 2001; the lowest price in the last ten years was in January of 1999 when oil dropped to about $10-12/barrel.

Oil has been somewhere between $76-79 in the last few days. The price hikes over about a seven and half year period have included periods of falling prices, but they still represent an enormous overall increase (roughly 700%) over the low of early 1999 during the Clinton Administration.

And Bush keeps telling us the economy is just fine.

4 Comments:

Anonymous mark said...

I love HUMMERs, especially the H2.
Nobody cares about the price of Oil when Bush entered office.
Al Gore speaks a lot about the environment, yet he does nothing to change it, except make movies ($$).
Give me a good alternative to Bush, not some sweet-talking southern used car salesman.

6:47 PM  
Blogger Craig said...

Mark, if you can afford the gas for a Hummer, you're in better shape than most Americans.

The reality is that the price of gas has caused the sales of SUVs to drop like a rock. Most people have other things they need to pay for.

People decide what they value and they adjust.

8:40 PM  
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1:08 PM  
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9:49 AM  

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