Skip to comments.Obama's Crackdown On Speculators Won't Cut Prices
Posted on 04/17/2012 5:07:07 PM PDT by Kaslin
Energy: President Obama's promised "crackdown" on speculators is another example of his using government to strangle markets and increase control over the private economy. Worse, it won't cut gas prices one bit.
President Obama knows that soaring gasoline prices are hurting his political chances in November. How else to explain his sudden decision to go after "speculators" that is, investors in the oil and gasoline markets for driving up prices?
Under his watch, gasoline prices have soared from $1.89 a gallon to nearly $3.90 a gallon a 106% rise in just three years. No wonder he's in a political panic.
Standing with Attorney General Eric Holder, President Obama said Tuesday he wants to put "more cops on the street" to nab speculators who profit from rising oil prices. Cops? For people investing legally?
After ripping Congress for not imposing new taxes on oil companies, as he wanted, Obama on Tuesday called on lawmakers to spend $52 million to give bureaucrats expansive new controls over oil trading markets.
Specifically, he wants to increase penalties for market manipulation and give regulators power to require energy traders to have more collateral. But, as even Obama admits, it "will not bring down gas prices overnight."
Actually, it won't bring prices down, period.
(Excerpt) Read more at news.investors.com ...
The perpetually wrong poseur in the White House stupidly insists that more oil production won’t bring down gas prices. Of course, what has occurred in the natural gas market reveals his wanton ignorance, with abundant supplies causing the price of nat gas to tank.
His banning of oil permits on federal land has this nation behind the 8 ball and is causing tremendous harm to the struggling economy. The only cure is a massive defeat for BO and the Leftist Democrats this fall.
He and his criminal organization is the problem
It is nothing more than a way to vilify oil wholesalers.
Pray for America
True. Threatening buyers will only drive prices up. Countries in Asia and others are also using more fuel for manufacturing, transportation and huge numbers of new drivers every years. Because of anti-defense policies, large wars are becoming more likely each year. The only real solution will be increased production.
When gas was $4 a gallon under Bush, a barrel of oil was $145! A good portion of that WAS speculation.
Today, gas is near $4 a gallon and a barrel of oil is only $102! The large portion of this is INFLATION!
So today’s dog-n-pony show is not designed to actually “fix” anything - it is a political ploy - PERIOD!
From your mouth to God's ear
He and his criminal organization is the problem
“My energy polices will cause energy prices to necessarily skyrocket, but when they do, don’t you dare blame me.”
Obama is a JOKE.
Yet this is what “conservative” Eric Bolling recommended on his FOX News gas price special last week. The same “conservative” who accused Newt Gingrich of attacking capitalism. Ah, but he admitted in his program that his regulations would make it easier for big Wall Street firms to speculate and just price out the little guys. And we all know that for the GOP elites, GOP establishment, FOX News and Willard “Mitt” Romney, pleasing their masters on Wall Street is what it’s ALL about. Capitalism is great when Wall Street bankers profit and it’s bad when they don’t and that’s about it.
Oh, and likewise socialism is great when Wall Street bankers profit and its bad when they dont and thats about it.
No, it won’t help with prices. His proposal will just limit spectulation to a wealthier group, who still won’t have to take possession of the oil. Speculation absolutely needs to be reigned in, but not this way. His proposal gives more control to the banks and less to people like you and I, who won’t be able to partake in the scheme (minimum trades will be sky high). Romney should be happy with Obama’s plan.
Anyone that THINKS Obama wants the price of gasoline and diesel to go DOWN is overdosing on Dumberal..
He is overjoyed that gas prices are UP!!!.
Which means if you are a democrat and proud of it you’re a eye roller and Drooler..
No one ever asks Zero what he thinks the speculators are speculating on.
He would love for them to come down in September and October.
This guy is the reincarnation of Jimmy Carter.
How the hell did Carter get elected, anyway?
[ He would love for them to come down in September and October. ]
Even then he wants it up..
Obama voters think RAP is actually music..
And their judgements about other things from there nosedive..
Like all Obama’s initiatives this scheme costs money and expands government. Every time government grows it means more Democrats feeding at the public trough and paying union dues. ObamaCare, the “Stimulus,” and Dodd-Frank are first and foremost schemes to aid the unions by growing huge new bureaucracies.
And back then the Dems called for Bush’s soul to be tormented in hell.
Now they bow to the One!
The GOP establishment pushed a conservative, Reagan, out of the 1976 race so they could keep their moderate king, Ford, in office.
“Speculator”is the catch all used by people who refuse to acknowledge the actual problem. Obama had the nerve to call the Chrysler bondholders he screwed over “speculators”.
Guess it took Carter to make Reagan “electable”. Maybe a dissheveled and demoralized republican party is good for conservatism.
That is beyond sick. I still can’t believe “we” let the legitimate bond holders of these companies, that should have just filed bankruptcy, get screwed.
Now that’s a message to the world.