Reply #27: I do blame Bush, but not for the usual reasons proffered by the congrssional Democrats

[CrazyDude]

1. War in Iraq created a terror premium in the price of oil where potential future production of oil has been considered risky.

2. However, most importantly, the War in Iraq coupled with increased domestic spending created a large deficit that had to be funded by essentially printing money. The price of all comodities, not just oil, have gone up over the past 8 years. In fact, the increase of oil compared to gold is only marginal.