1-ALL, I repeat ALL increases of production on Federal lands are due to old leases established by Bush.
2-Technology is allowing for better drilling methods and this plus #1 account for increased production.
3-Drilling on Federal land is almost at a standstill due to Obama. Most progress in oil production is on PRIVATELY OWNED lands and has nothing to do with Obama, other than that his EPA bandits are trying to regulate it and in my opinion negatively so, as I write.
4-Bernanke of the Fed, has diminished the value of the dollar, and you can see that in your grocery bill by QE1 & 2. Oil is pegged solely to the dollar. If it takes more dollars now than three years ago to buy the same gallon of gas, that is your government at work, causing the increase.
5-ALL, I repeat ALL signals, in real time, not in lie time, by Obama tell speculators which are not demons, but airlines and building owners simply trying to hedge their bets on future purchases buy futures contracts and the price is driven up. When the government signals they want higher oil prices, this drives prices up. If Obama announced tomorrow that he will “drill baby drill”, then the speculators would back off immediately rather than invest in futures that they will have to pay for at prices higher than market.
Have you noticed that when Obama speaks on oil, he speaks from only one side of his mouth?
I do, as he only mentions the demand side and refuses ever to mention the supply side. More supply means lower prices just as much as less demand does. The lie of omission? You bet your butt, as the laws of supply and demand are as old as my ancestors when the first one took a rag and cut in half to sell two rags.