Skip to comments.Hope & Change to Blame & Shame….Obama Panders To The Left On Oil Speculators
Posted on 04/19/2012 12:34:14 PM PDT by Starman417
More pandering from Obama:
[VIDEO AT SITE]
Of course government needs to step in to protect consumers because god knows us consumers can't think for ourselves and we need to be protected from those eeeevvviiiiiilllllll bankers...woops, I mean those eeeeevilllllll CEO's....woops, I mean those evvvvvillllll speculators.
Now it's the speculators and their evil capitalist ways. I mean how dare they want to make a profit? To a Socialist, like this man, it's pure evil to want to make money. Everything should be done to help the State, all profits should be confiscated and the government should be allowed to decide who is worthy to receive that which they didn't work for.
This is how this man thinks.
By the way, did we hear these kinds of complaints when the price of oil went down to 30 bucks a barrel not so long ago? No, Didn't think so.
So now our President is going to take 52 million dollars of our tax money to pay for more bureaucrats to investigate speculators AGAIN!
In the U.S., we've had repeated federal investigations of speculators' role in driving up prices in 2003, 2005, 2006, 2008, 2011 and again this year. Not one has found evidence of pervasive market manipulation.How else to describe this as anything other than pure political pandering to his base. His base wants the mighty hand of government to control all aspects of life in this country. Somehow they believe if government bureaucrats get involved they will stop oil speculators from making a profit and THAT will drive the price of oil down?
Let's not even mention the fact that our exchange is not the only exchange in the world. There are exchanges and speculators all over the planet, and our government can't do a damn thing about preventing them from making a buck. Speculators will just move to those exchanges if he makes it difficult for speculators to make a buck AND speculation will still occur.
The fact of the matter is that speculators don't cause higher prices. Higher prices occur because of supply and demand: (pdf)
(Excerpt) Read more at floppingaces.net...
I am thinking the perfect candidate to run this investigation is Jon Corzine. Only because Bernie Madoff is unavailable.
He’s got some fellow travs regarding “speculators” right here on FR. They’re also known as CINOs (both Conservatives-INOs and Capitalists-INOs) and RINOs, and LINOs for that matter. Thanks Starman417.
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