Is George Bush a zinc man? A copper man? An iron man?

The Libs on this board and elsewhere see a connection between Bush’s having been in the oil industry and the increase in oil prices.

But prices of almost ALL commodities rose by about the same amount at the exact same time. The reasons are pretty straightforward – in 2003 the dollar prices rose faster than the price in other currencies because of the weak dollar policy, the purpose of which was to stem rust belt job loss. From 2004 on the reason has been rising demand, principally in Asia. Maybe there was $3 of terror risk and another $2-3 of speculative long money per bbl, the latter of which going away a month ago when the hedge funds shorted, but other than that price of oil looks like the price of most commodities used by industry.

Anyone who has read the financial statements of the producers of these industrial commodities knows that volume is up on rising demand.

In ‘04, moonbats dreamed of conspiracies while realists bought Phelps Dodge.

Which are you?