A question for DUers from a former DUer (have at it)

[Spider Jerusalem]

44. A response: I'm sorry you're too stupid to understand how supply and demand affect oil prices

Average price of one gallon of regular unleaded, 21 April 2008: $3.50. July 2008: oil peaked at $147 a barrel. Anyone remember what happened between July of 2008 and January 2009 to cause the precipitous drop in fuel prices down to $1.80 a gallon from highs above $3? The global economy went into meltdown. That's what happened. Demand destruction and deep recession. Since then? Economic recovery in much of the world has led to increased demand. The current price of oil? $117 a barrel for Brent crude on the London exchange (NYMEX crude is an inaccurate and broken benchmark and does not reflect the cost per barrel of most US crude oil or imports). Inflation is in part due to a loose monetary policy of quantitative easing and low interest rates, and partly due to the increase in oil prices (which are pegged to the dollar). As to the rest, it's not perfect but it's better than the alternative (a Republican administration would probably adopt a harder line on Iran, for one).