The record price comes as a new book by Washington Post reporter Bob Woodward claims that Saudi Arabia’s ambassador to the United States, Prince Bandar bin Sultan, promised President Bush the Saudis would cut oil prices before November.
Woodward, author of a new book on Bush’s preparations for the Iraq war “Plan of Attack,” said Prince Bandar pledged the Saudis would try to fine-tune oil prices to prime the U.S. economy for November’s presidential election, a move they understood would favor Bush.
And one month before the November mid-term elections:
http://www.ioga.com/Special/crudeoil_Hist.htm
if you look at the oil prices before the 2004 election, they were actually higher than the average price for that year.