Oil Prices Not Problem until Bush Invaded Iraq

The facts speak for themselves. Crude Oil prices (adjusted for inflation) started to jump in 2003 and have gone up dramatically ever since. If you believe 9-11 had something to do with it, think again. Oil prices declined in both 2001 and 2002. The nonsense that somehow world demand for oil is to blame is not born out by the facts. The price in 1998 was the lowest since the end of World War II. This could be explained by the lack of conflict in the Middle East. In previous periods of oil shocks (1974 and 1979) it involved political turmoil or a major war in the region.