Just about everything traded in the open market has had huge price fluctuations at some point in time (coco, sugar, orange juice, coffee, natural gas, you name it) based on supply and demand. It has nothing to do with who is president and if you think it does, then go ahead and live in your fantasy land. There is a finite supply of crude oil on this planet. It has been harder and harder to find new major sources of crude. Demand (usage) has grown tremendously and will continue to do so. Very, very simple logic will dictate that the price of crude will continue to go up long term, with short term price instability. A 300% gain in the price of crude does not equate to a 300% increase in demand. On a global scale there no longer is the ability to produce an excess amount of crude compared to the demand. Therefore any damage to the availability of the supply (real or imagined) causes and immediate uptrend in the price. It will only get worse in the long term and may improve in the short term, but will not last!
Yes, I agree that the market for oil is full of manipulation from many parties. And that can affect the price short term. It must be nice to have a product so needed and also have the ability to mutter a few words regarding anything to do with oil or an oil producing region and almost immediately have your product go up 10% in value.
The governments and businesses of the world are full of crooks, on that I think almost everyone agrees, but to get all bent out of shape because the world doesn't run the way you want it to, is completely futile, and can only drive a person insane!
