The drop in oil prices (because I watch them every morning on Squawk) is directly related to the day President Bush reversed the ban on domestic drilling. The MSM, even Fox, has not attributed it to this, but it is true.
Note that last Sunday afternoon, “O” indicated that he may reverse this, and sure enough on Monday morning, oil rose $4/barrel.
Friday, 11/7 Close was $61.04
Monday it closed at $62.41
Tuesday it closed at $59.33
Wednesday it closed at $56.16
Thursday it closed at $58.24
I see a last price of $56.88
What policy of Obama’s and the democratically control House and Senate drove this week’s drop?