"Obama gets no credit for lower oil prices because he had nothing to do with it.
American companies developed the new oil sources on PRIVATE LANDS using PRIVATE FUNDS. Increase in supply, and OPEC refusal to curtail production against new supply have lowered oil."
That's a simplistic view of thinking narrated by the mass media. Given that Fracking has been going on for many years without oil price crashing, then why suddenly now?
I would argue that Obama Admin may have something to do with the sudden falling of the oil price. The oil price started to fall in June 2014 which was immediately after Russia annexed Crimea. I think the West (US) and Russia are effectively at war without firing a shot and this is how superpowers fight each other by other means (eg. economic destruction).
I think the oil price will recover when the US and Russia normalize their relationship, call it a 2nd "Détente" (cooperation between the two superpowers). This is all about geopolitics.
There is something very peculiar about the right-wings' psyches that are constantly in need of a wedge issue to quell their inner crisis. In the 80's was about abortion, in the 90's was about gay rights, and today is all about Islamaphobia and in particularly with Muslims in general.