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[quote=Roger Perry;761919]The oil prices are on the rise because of the unrest in the Middle East Libya in particular. How may I ask is it the fault/doing of the Obama administration.
Oil prices rose beginning in 2002 & 2003 with the invasions of Afghanistan and Iraq which was directly related to the actions taken by the Bush administration. When was the last time you saw oil at $40.00 a barrel? During the Clinton administration?????????[/quote]
Please don't twist the facts!
Price of oil plummetted in 1985 and stayed below $40 per barrel until 1999.
In the second half of the 80's both Iran and Iraq were producing oil at breakneck speed in financing thier war with one another.
Price had NOTHING to do with Clinton!
India's and China's demand for oil has more than tripled since 1999.
Oil was actually below $20 per barrel until Jimmy Carter became President! During his term the cost skyrocketed.
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That's certainly good news for the employed and their families, (wonder if Duck was counted in that? ;)) but as the talking heads constantly say we need 120,000 just to keep up with population growth. And while yes it does have to start somewhere, I don't think PBO gets to take a bow untill 300,000 and holding for months. And that's not just me, that's what Krugman says. http://krugman.blogs.nytimes.com/200...-jobs-deficit/
Must just be coincidence though, that it's happening just after the extension of the tax rates.
