1) The President (any President) has no control over where traders set the price of crude oil. The only tool they have is to limit the traders, which Obama has asked for several times but had no luck at getting accomplished.
2) The other tool, is to reduce demand by running less wars and requiring higher mpg
standards. Both of which Obama has done. So passing more strict mpg
standards, lowers oil prices in the long run.
3) The 3rd factor in energy prices is OPEC and how much oil they release. It's not US production unfortunately for 2 reasons, it's too small of a % of the worldwide total to effectively lower energy prices (outside of Commodities Traders over reactions) and our cost to produce is over $65/ barrell. See we only can even produce when oil is high.
4) The other LARGE factor is Recession. People drive less, fly less, spend less in general during recession. Oil prices dropped at the end of the Bush presidency because of the start of the Great Recession that Bush presided over as energy usage was already decreasing greatly. Energy prices rose over the last 2 years because the recession was ending. Now we are in danger of slipping back in to recession and people are tightening their belts again which is reducing oil prices. Lowering oil prices this way is the worst option available.
5) In spite of what is claimed all of the time by the right, we are not having record high fuel prices right now. It was most recently over 30% higher during the Bush Presidency and more than that if you calculate inflation.
6) Anyone w/ half a brain should have purchased a more fuel efficient vehicle over the last 5-6 years if their fuel costs mattered to them. I drive a sports car now instead of a diesel truck and it works great for me 99.5% of the time. And my fuel costs per month are almost identical per mile to what they were in 2000 when I got my Superduty when fuel was 'cheap' Getting 3x the fuel economy tends to do that. No excuses if you still drive a gas hog.
7) My last point, and I know this is going to be hard for some of you to grasp, is that the current oil boom only exists because of high energy prices. The nature of oil exploration in the USA is that's it's hard to get at and therefore expensive. If oil drops, the oil boom in the USA goes away in the blink of an eye. I can tell you that this oil boom has been very good to me and my family.
I felt the need to cover these issues because I constantly see several members state things that are untrue about current energy prices. Just the facts please.