Daily Archives: February 25, 2012

Oil prices, embargoes, and lies

The Kimmeredge oil well. Is raising the price of oil a motive to let the Middle East erupt in flames?

Oil prices have more than tripled from recession-era lows, and motor fuel prices have more than doubled. The last time prices were so high, a certain US Senator from Illinois used that against the then-incumbent President and that same Senator’s eventual opponent. That Senator is now President. Now he seems to want oil prices to stay high.