Posted on 03/13/2012 4:22:42 PM PDT by Bobbys1963
With the price for a regular gallon of gas topping $3.80 on Monday, angry politicians are blaming the higher prices on speculators and greedy oil companies.
On Friday, President Obama announced that he was “making sure that my Attorney General is paying attention to potential speculation in the oil markets.” 23 Senators and 45 congressmen, all Democrats except for one independent, are calling for urgent action against the “speculators” they hold responsible.
These members of congress want the Commodity Futures Trading Commission to use its new regulatory powers under a law Obama signed two years ago to limit the amount of oil that speculators can buy.
This isn’t a new concern.
During the 2008 presidential campaign, Obama campaigned against "the special interest politics that put the interests of Big Oil and speculators ahead of the interests of working people," and surely implied that an Obama administration would end these high prices by clamping down on speculation.
Possibly that is why a new Washington Post/ABC News survey released on Monday shows that soaring gas prices have taken a toll on Obama, with 50 percent of American's strongly disapproving of Obama's economic performance -- the highest in the poll's history.
Unfortunately, neither the Democrats in Congress nor Obama appear to have a clue how markets work. . . .
(Excerpt) Read more at foxnews.com ...
Just announce that the USA intends to be energy independent and the price will dramatically drop overnight.
BULL!!!! GAS PRICES JUMPED 12-15 CENTS HERE TODAY!!! JUMPED UP. NOT DOWN!!!
The cheapest in NW Houston is $3.65 9/10. It’s gone up 22 cents in three days. You’d think it would be cheaper in this oil town.
We got 40 million people who drive to work, sit at a computer and use a telephone all day, and then drive home.
We have the technology which would allow them to do this at home...Saving billions of gallons of fuel, eliminating most traffic etc...
You’d think the government would give incentives to these employers to do this?
No way...It’s just too damn easy.
It was $4.39 /gal for regular on I-5 in N. CA Monday.
Go to Limbaugh’ web site and real about Obama and oil. He has issued no drilling permits, compared to W’s 40,000+. There is NO new oil production on federal lands - the only new U.S. production today is on private land. No Keystone pipeline, no harvest on federal lands, no ANWR, etc. Obama is a big phoney when it comes to oil. Check it out.
Great piece by Lott. He had the unfortunate experience of having to work with the arrogant, ill-informed Obama some years back, so he knows what a wacko the guy is. Obama is quite simply incapable of seeing the relationship between his anti-energy policies and the price of petrol. He’s not nearly as smart as the leftwing media would have us believe.
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