19 December 2008

the not so invisible hand

W1 - January 2007 - George W. Bush signs Executive Order to double the size of the Strategic Petroleum Reserve 48 hours after the price of OIL dips below $50 per barrel

W2 - May 2008 - George W. Bush signs legislation passed by Congress to temporarily halt filling the SPR (that is 97% full) until the price of OIL goes below $75 per barrel for 90 days

"Free Markets" my ass