Thanks Speculators!

A couple of months ago President Obama ripped “speculators” because he claimed they control oil prices and when crude topped $108 it hurt the country. Rather than accept any share of the blame for stifling oil production on federal lands through the systematic denial of drilling permits, according to the president, it was all the fault of speculators.
We have been watching closely lately. Oil fell below $90 per barrel earlier this week and Jay Carney the White House spokesman has yet to “thank” speculators on behalf of the president for lowering oil prices. Stand by. Surely this president will get around to thanking the people who control oil prices for lowering them. We all know lower oil prices tend to help incumbents. Surely the White House, so quick to blame speculators when oil prices worked against his political ambitions will soon thank speculators now that oil prices have moved dramatically in the other direction. Don't hold your breath.

Thanks Speculators!