AN IMPORTANT REMINDER FROM 2008, WHEN PRESIDENT BUSH PRICKED THE OIL PRICE BUBBLE:

Plus: “When the government of the largest and most productive economy in the world announced that it was no longer going to put artificial limits on its domestic energy production, the market took note.”

Read the whole thing.

Update: Twitter embeds seem to be broken this morning. The best I can offer until Twitter fixes its mess is to go to Will Collier’s Twitter feed and scroll down to his oil thread.