Normally, in an election year, oil prices tank. It's all part of the political Kabuke, and has had some really rough consequences for those of us in the upstream end of the industry. The layoffs, consumed savings, etc. that much of America is experiencing these last four years are not strange turf to us, we've been there, done that.
Of course, discretionary spending goes first, the budget gets pared down to essentials, and the leftovers allocated to priorities first. Just a few years ago, we stripped things down to bare metal, budget wise, and cut that by half, monthly. When making such decisions, every ongoing expense was annualized; a $20/month bill became $240, for instance.
Entertainment budgets, dining out, clothing (except for growing kids and replacements due to wear), even 'unnecessary' trips by vehicle were all slashed, and bargain hunting became even more of a vocation.
Much of America will respond the same way, if they haven't already.
But the key factor in all this remains.
We cannot let the media, nor the government spin the situation into one of alleged "corporate greed" being the cause, rather the blame must be laid at the feet of those who have created the crisis.
I can only forsee the administration using high oil prices, a 'crisis' situation they have helped create by domestic anti-drilling policy, by interdicting the Keystone pipeline, by helping destabilize North African nations who produce oil for Europe (placing increased demand on world supplies), and by helping Iran get too big for its britches (also changing global demand).
While Soros' investments will likely profit handsomely from these policies, the real prize for the Marxists is the justification of their plan to 'nationalize' oil production in the US.
That will be the likely outcome they are working for, and the promised alleviation of hardship on the rank and file will be the carrot that will get their donkey cart back into power in 2012--if we let them.
Hummm
Then we only have one choice.
Don’t let them
