I think it's pretty clear that the recent fall in the price of oil on the world market has to do with the fact the the Bush Administration opened talks with the Iranians. This caused a softening in tensions in that part of the world. And to anyone who knows how the price of oil works, the softening of tensions in a major oil producing nation is a core issue among speculators.
I'm not sure the Obama Drop is the best phrase to use for this. But I do think it would be wise to come up with a phrase. And maybe we could use that phrase even more once (and if) the price of oil dropping gets seen at the gas pump. Wouldn't it be great if the MSM starting picking up on that phrase too?
Are there any Madison Ave types out there that could come up with a phrase for this?
Quite a week for Obama. He precipitates one of the biggest drops in the price of oil in history, and he shows the world a wise opening to end the American presence in Iraq, that gets the support of the leader of Iraq.
Wow!