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Bush Approval Rating and Oil: Interesting Correlation

Posted on August 19, 2008

Gallup.com's most recent report on President Bush's approval rating highlighted that it had been inching higher since the lows seen in late June. While still extremely low at 33%, it's 5 points higher than the 28% approval rating seen on June 19th. Below we highlight a chart of Bush's approval rating since he took office in early 2001 versus the inverse price of oil. As shown, the two track each other almost perfectly. As oil prices rose to a record high in June, Bush's approval rating hit a record low. Is it any wonder that Bush has seen a bounce with oil now $35 off its highs? ...

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highs , lows