No, he's not. And, it's not a - unsurprisingly - very smart move on his part.
He won the election in 2008, not because of the weakness of McCain's campaign, or the so-called financial crisis, but because gasoline was near record prices in the summer of 2008. That is what set the table for his election.
But, the same thing can happen to him - and, not only might we see skyrocketing fuel prices, but we could conceivably see gas lines cira 1978. Even ignoring what that will do to unemployment, a real energy crisis - like one that would be precipitated by a Islamicists control of the Suez, would guarantee he'd lose the election to Pee Wee Herman.
OBoozer wont do Shiite as he want $10 a gallon gas.
Most supertankers are not capable of traveling through the Suez and if hostile forces were to seize the Suez, they could not hold if for more than a week as many nations would enter into a military pact to open the canal.