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Obama to pitch $52M plan to regulate oil markets [Maxine Waters Dream Coming True]
Fox ^ | 4/17/12

Posted on 04/17/2012 6:02:22 AM PDT by SoFloFreeper

Under pressure to take action on rising gasoline prices, President Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

The White House plan, which Obama was to unveil Tuesday, is more likely to draw sharp election-year distinctions with Republicans than have an immediate effect on prices at the pump. The measures seek to boost spending for Wall Street enforcement at a time when congressional Republicans are seeking to limit the reach of federal financial regulations.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: energypolicy; gas; marxistcoup; maxinewaters; nationalization; oil; oilmarkets; oilphobia; oilregulation; socialism
Maxine, you remember, yearns to socialize the oil industry. The "Why So Socialist" JOKER is taking a step toward that dream today.

Democrats hate capitalism.

1 posted on 04/17/2012 6:02:31 AM PDT by SoFloFreeper
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To: SoFloFreeper

This seems awful Carter-ish. Tell me...how did it turn out when Carter tried to regulate?


2 posted on 04/17/2012 6:04:37 AM PDT by woweeitsme
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To: SoFloFreeper

It’s funny when Bush was President, gas prices were all the faultof he and his oil drilling pals.

Now with Obama it is someone elses fault and not his.


3 posted on 04/17/2012 6:07:14 AM PDT by Venturer
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To: SoFloFreeper

“Obama to pitch $52M plan to regulate oil markets”

Shortages, mismanagement, inefficiency, waste, apathy and corruption come immediately to mind.


4 posted on 04/17/2012 6:07:30 AM PDT by Spok
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To: SoFloFreeper

Say hello to gas lines again!

Odd or even?


5 posted on 04/17/2012 6:10:03 AM PDT by 4yearlurker (Sorry,no tag line today.)
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To: SoFloFreeper

I’m convinced this sort of nonsense will carry on until the very day the US Gov’t goes bankrupt. Only then will it end.


6 posted on 04/17/2012 6:12:36 AM PDT by PGR88
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To: thackney; Nachum

Ping.


7 posted on 04/17/2012 6:14:43 AM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: SoFloFreeper

I don’t know what his “plan” entails but someone needs to get to the bottom of the manipulation of the oil markets. That’s the primary reason why we’re seeing what’s been happening over the past couple of years. Investment banks and securities firms are making tons of money off of it and the American people being screwed.


8 posted on 04/17/2012 6:15:29 AM PDT by abercrombie_guy_38
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To: SoFloFreeper

Yipee!!!!! More fat Federale paychecks for more dopes. Don’t bother applying if you are a white heterosexual male no-siree. These jobs in Obama’s new Petro-Administration are reserved for the usual affirmative buzzards that feast on your tax dollars....women, minorities, gays, trannies too I suppose


9 posted on 04/17/2012 6:18:30 AM PDT by dennisw
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To: SoFloFreeper
Still, seeing a potential problem with speculators is not limited to Obama or Democrats or this election season. When gasoline hit $3 a gallon in 2006, George W. Bush launched an investigation, declaring Americans "don't want and will not accept ... manipulation of the market. And neither will I." Last year, as prices rose, Obama and Holder announced the creation of a task force to look into fraud in the energy markets.

So the third time is a charm?

I want to know which Obozo contributors will this enrich?

10 posted on 04/17/2012 6:22:08 AM PDT by Abundy
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To: SoFloFreeper
Yep more government regulation is what we need! Just piss everyone off even more so they can drive up the price even more by speculating that these regulations will decrease production. Democrats are so eagar to throw away money it's ridiculous. Their only idea how to fix a problem is to throw money at it.
11 posted on 04/17/2012 6:23:03 AM PDT by 3rdcoastislander
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To: SoFloFreeper

Meanwhile the drumbeat of Dictator Obama grows louder:

regulate -— control -— destroy -— Regulate -— control -— destroy -— REgulate -— control -— destroy -— REGulate -— control -— destroy -— REGU


12 posted on 04/17/2012 6:25:07 AM PDT by Graewoulf ((Dictator Baby-Doc Barack's obama"care" violates Sherman Anti-Trust Law, AND U.S. Constitution.))
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To: woweeitsme
More importantly, what happened when Reagan deregulated? Deregulation was not the highest priority in his economic program, but he did ease or eliminate price controls on oil and natural gas, cable TV, long-distance telephone service, interstate bus service, and ocean shipping. Banks were allowed to invest in a somewhat broader set of assets, and the scope of the antitrust laws was reduced.

Surprisingly, Carter is the one who deregulated airlines which led to the huge drop in airfares.

13 posted on 04/17/2012 6:27:02 AM PDT by ProtectOurFreedom
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To: abercrombie_guy_38

“I don’t know what his “plan” entails but someone needs to get to the bottom of the manipulation of the oil markets. That’s the primary reason why we’re seeing what’s been happening over the past couple of years. Investment banks and securities firms are making tons of money off of it and the American people being screwed.”

I watched the Palin special on Fox Saturday and they had a former SEC commissioner on there and he said words to the effect that no more than 10% of the market should be allowed to be speculated on. I missed the particulars though. Anybody see this guy?


14 posted on 04/17/2012 6:32:55 AM PDT by headstamp 2 (Liberalism: Carrying adolescent values and behavior into adult life.)
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To: PGR88

Hopefully the scenario will go the route of
“the bastards who caused all this fleeing for their lives”

instead of
“the bastards who caused all this seizing complete power over OUR lives”


15 posted on 04/17/2012 6:36:30 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: SoFloFreeper
No Democrats love authoritarian dictatorship
16 posted on 04/17/2012 6:37:37 AM PDT by tophat9000 (American is Barack Oaken)
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To: SoFloFreeper

But still no interest in properly regulating the silver market. Wonder why?


17 posted on 04/17/2012 6:40:43 AM PDT by theBuckwheat
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To: SoFloFreeper
Obama: "We've just got to do something about these gas prices, they're killing my chances! Any ideas?"

Hack #1: "Well, maybe open the gulf back up for drilling?"

Obama: "Are you crazy? Come on, people, serious ideas only!"

Hack #2: "Well, there was that whole keystone pipeline thing..."

Obama: "Now I'm getting mad. What is that thing, a vampire? I thought I put a stake in it's heart but it keeps coming back."

Hack #3: "I just don't see how we can do much without imposing a stifling beurocracy and excessive regulations..."

Obama: "Finally a good idea! Regulations! Fantastic!"

Hack #3: "But wait, I meant that would be bad"

Obama: "Not now, I'm on a roll! Quick, let's get a press release together, we're going to regulate!"

18 posted on 04/17/2012 6:42:50 AM PDT by pepsi_junkie (Who is John Galt?)
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To: pepsi_junkie

OPEC says “EMBARGO!”


19 posted on 04/17/2012 7:03:18 AM PDT by massgopguy (I owe everything to George Bailey)
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To: theBuckwheat

It’s astonishing timing of this explicit call for higher margins at the CTFC. Silver now has an excuse for the usual pre-expiration smash-down, down pretty hard almost from the very minute the market opened. Don’t try to catch the falling silver knife before Friday expiration.


20 posted on 04/17/2012 7:10:46 AM PDT by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: SoFloFreeper

Oil speculation is only PART of the problem! INFLATION is the BIGGEST cause for our current gas prices!

A barrel of oil is selling for about $102 - which is only about $20 more than when Obama took office! This Administration has printed money at such a rate that the American dollar is not as valuable and oil is traded in American dollars!

This attempt to regulate speculation is nothing more than a ploy and distraction and BS! He is trying to act like he is doing something - and he already has - he created the INFLATION!


21 posted on 04/17/2012 7:15:12 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: ExTxMarine

As a good comparison, when gas was over $4.00 a gallon under Bush in 2008, a barrel of oil was $145!


22 posted on 04/17/2012 7:16:34 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: Abundy
I want to know which Obozo contributors will this enrich?

Evidently the republicrat Congress which doesn't do a damned thing to put the brakes on anything this destroyer does.

23 posted on 04/17/2012 7:27:11 AM PDT by onedoug
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To: SoFloFreeper

Dear Leader taking over the natural gas industry Friday and today it’s gasoline.

Tick, tick, tick.


24 posted on 04/17/2012 7:57:56 AM PDT by bgill
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To: bgill
Dear Leader taking over the natural gas industry Friday and today it’s gasoline. Tick, tick, tick.

And not a flippin' word from our Conservative Leaders in the alternative media i.e Beck, Levin etc or the Alternative Financial media.

We are on our own....

25 posted on 04/17/2012 8:10:48 AM PDT by taildragger (( Palin / Mulally 2012 ))
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26 posted on 04/17/2012 8:15:13 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: SoFloFreeper

Did Obama just validate Mrs. Palin and Mr. Bolin by taking their advise on increasing margin on oil futures? I think he did. But, but, but,....Palin, they say, is ignorant and out of touch with no real life or managereal experience. How can the left, any more, criticize Palin as ignorant. They are duplicitous and corrupt and intriguers....also they are pricks.


27 posted on 04/17/2012 8:20:38 AM PDT by Texas Songwriter (Ia)
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To: woweeitsme

Told ya so.

When Barry was finally forced to confront rising gas prices his tactic would be to go after the Grrrrrrreeeeeedy Speculators.


28 posted on 04/17/2012 8:25:21 AM PDT by Buckeye McFrog
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

Thanks Army Air Corps

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


29 posted on 04/17/2012 9:13:21 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: SoFloFreeper
I couldn't BELIEVE this when I heard it this morning....Obomba must be getting skeered.....I SPY Radio talked with Dr. Fine about this last Saturday....and speculation was that he wouldn't pull this out until August or September....AND furthermore....THERE is NO NEED to spend ANY money....the DEMOCRATS have been BARRING the COMMISSION from taking action on the Speculators....see my colleague's comments below:

Obama could have fixed this two years ago. He's been sitting on the solution until he can score political points off of it. Here's the thing:

Oil speculators DO affect the price; however, speculation itself is not bad. That's normal market forces. The real issue is that, currently, speculators can buy oil contracts on very low margins, literally pennies on the dollar. So there's no risk--they can buy, say, $10 million in oil contracts for $500,000, sit on it and wait for the price to go up. The Dodd-Frank bill, passed TWO YEARS AGO, gave the Commodity Futures Trading Commission the authority to raise the margins or eliminate them all together. However, the CFTC has 5 members: 3 D's (one of which appointed by Obama) and two R's, and the D's have been purposefully delaying implementing the new rules on margins.

Once again, the R's miss the point because they were looking in the wrong direction. They've been out there saying it's Obama's policies, and now he's going to swoop in and "solve" the problem.

And get a $52 million slush fund on top of it (after all, why does he need $52 million to do something the CFTC already has the authority to do?).

30 posted on 04/17/2012 9:19:35 AM PDT by goodnesswins (2012..."We mutually pledge our Lives, our Fortunes, and our Sacred Honor")
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To: Texas Songwriter

NOOOOO.....the commission had the power to do this 2 YEARS AGO....he’s using it for VOTES!!!


31 posted on 04/17/2012 9:31:23 AM PDT by goodnesswins (2012..."We mutually pledge our Lives, our Fortunes, and our Sacred Honor")
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