Pres/parties have little to do with price of oil/gas other than taxes and exploration.
Would be easy to go on a Spy tangent and say since GW visited the Saudi's last week--oil has came down $8 a barrel--but fact of the matter reason was inventories report were strong and weak market pointing to slowdown in economy.
Following 911 which resulted in large economic down turn price of oil was around $25 a barrel the following months in 2000.
The price of oil is directly related to supply and demand--biggest factor for price increase past 2 years is boom in economy worldwide.
If you think I'm biased lets go back to Clinton admin and take a look at headlines everyone seems to forget-- Was he responsible?- not in my opinion--other than cost of gas per upping gas tax but not as far as price of oil--
http://www.quarterly-report.com/energy/gas_prices.html
March 23, 2000
225th anniversary of Patrick Henry's "Give me liberty or give me death" speech
The Department of Energy (DOE) reported this week that the average price for unleaded, regular gasoline rose to an all time record high of $1.53 per gallon. Gas cost an average of $1.27 a gallon the last week in December. This is a 20 percent rise in three and a half months. In a recent analysis of spiraling fuel costs, the DOE predicted that gasoline could reach $2.00 by the summer. It is a pity the DOE concerns itself with averages. In Nevada, gasoline is already $1.80 a gallon. By their regretful prognostication, Nevadans will soon be paying $2.30 a gallon. This is about double what gasoline cost last year.
Much has been written about the reliance of Americans on cheap oil to sustain their prolific ways of energy use, particularly for vehicle transportation. There is truth in this. The failure of the Clinton Administration to address the energy efficiency of automobiles and light trucks during the last decade will be addressed in Part 2 of this Editorial.
However, the present crisis is not a question of whether prices are high, but the speed at which they are rapidly escalating. For nearly all Americans, the cost of energy is a vital component of their monthly budgets. Price certainty is vital.
Principally through DOE Secretary Bill Richardson, the Clinton Administration has flooded the airways with near daily updates about its efforts to stem the increases and placate the country that it is doing "all it can." This crisis, as with heating oil price explosion this winter, caught the Administration by surprise. Now, an energy shortage has caused Americans to burst with wrath. The public's discontent -- justified by the rapidity of the increases -- demonstrates the Clinton Administration's dismal failure to structure a 21st century energy policy.
The Administration's inability to acknowledge a heating oil shortfall last summer and to take steps to minimize its impact to consumers is atrocious, as the current energy crisis is one of inadequate gasoline and petroleum stocks. Cuts in Organization of Petroleum Exporting Countries (OPEC) and non-OPEC production in the last year have left the United States handicapped by a supply squeeze. Foreign oil exporters trimmed crude oil production by 4.3 million barrels (about 7.5 percent) last year.
During the period, December 1998 through March 7, 2000, crude oil has risen from below $10 a barrel, a twelve-year low, to over $34 a barrel, the highest level since the Persian Gulf War. Figures for the week ending February 26 show gasoline stocks were 197 million barrels from 229 million a year ago (a 14% drop) and crude oil at 286 million barrels versus 336 million (a 15% drop) for the same period. Reserves of spare oil are at their lowest level in two decades.
--much more if you read entire link
you might consider this also--gas back then approaching $2 @ $34 a barrel oil
today $3 a gal @ lets say $90 a barrel ave
So when your dissing these big bad oil co's you might want to consider they have managed to keep gas @ 33% increase when price of oil has went up 300%--