This article indicates that Enron and Clinton rather than Halliburton and Bush are responsible for high oil prices. With futures prices much higher than spot prices, producers have no incentive to sell now. Personally I suspect George Soros is involved in this. T. Boone Pickens and Richard Rainwater have no doubt made billions from the ridiculous runup in oil prices.

http://www.americanthinker.com/articles.php?article_id=5747