A little over a month ago I posted this chart (via USA Today) tracking Bush's approval ratings and gas prices. Here are some more links that raise the question of whether Bush, spearheaded by his croney and Goldan Sachs honcho Hank Paulson, is manipulating gas prices.
Friends in High Places
Approval at the Pump
Average Joe getting suspicious
CBS News joins the fray
U.S. News Wonders Why
Econobrowser on the Conspiracy
New York Times on Goldman's interest in manipulation
For those who don't subscribe to the Times
What does this all mean for us traders? Politics aside, if there is truth to this theory, it probably means my recent post about becoming an energy bull was a little early. I don't think the resistance levels I pointed out will break in the near future. If I were long oil, I would not enter until energy stocks break out over those major resistance levels.