Campaigning - Let the public think you are on their side and against high oil prices. Point the finger at evil speculators and traders. Everyone loves a common enemy. It helps brings everyone together when you are the "leader" and when it's time for re-election. Genius - Wasted tax dollars help debase the currency. Debasing the currency attributes to higher oil prices. So let's waste more tax dollars by forming an "investigative team" to look into higher oil prices. I didn't vote for this genius.
Whatever new friction Obumble introduces to the oil market: higher margins or taxes -- it will simply cause oil to be traded elsewhere.
Yes, I bet those London and Singapore traders are just shaking in their boots about what the little o is planning.
Odumba is just trying to spread the blame. He doesn't have a clue how markets work or even why futures makets exist. However, he thinks he is all knowing and he will fix things for us. Just like Oreilly thinks oil companies just fix oil and gas prices, Odumba too thinks there is no supply problem so it must be oil companies and speculators pushing up prices (although he likes to see it happen). So, under pressure he is going to vilify those two groups and spread the blame. Obama will never place blame where it belongs, on him and his administration for not allowing productive drilling and not pressing the FED to lighten up on the QE. The U.S. is sitting on the largest energy reserves in the world (coal, oil, nat gas, methane) and Obama has a policy not to use them. God save us!
Bingo! WTF did he think he was going to happen when he, Bernanke, and Giethner were throwing trillions of dollars out the window in a desperate attempt to destroy the dollar, save the economy, and inflate housing prices. Did they think they could just magically inflate home prices, and keep everything else low? This has to be the most boneheaded thing I have ever heard Obama say, and thats saying alot. The funny thing is that we aint seen nothing yet, wait till Bernanke rolls in with QE 4,5,and 6, then we will see some real pain. I wonder if Bernanke will still have the audacity to tell us inflation is under control when oil is 300 dollars a barrell, gas is 12 dollars a gallon, and it costs 5$ for a fucking banana. LOL.
One comment I read mentioned if Obama allowed drilling in the US, oil prices would drop. On the flip side though, solar wind and whatever green would tank too. I enjoy Obama being squeezed. He can't handle it. My guess he'll pop a blood vessel.
For anyone who has seen the movie "Basketball." "Squeak little bitch scolari" Vs. "Timothy Geithner" They look like twins.
Obama says new task force will examine gas prices http://news.yahoo.com/s/ap/20110422/ap_on_bi_ge/us_obama
Should Saudi Arabia be allowed to leverage up the price of oil in the futures market, getting to a particular height, then hedging a drop? Anyone who thinks markets are devoid of speculation and manipulation doesn't understand a money trail. When price is detached from basic and true supply and demand...like silver is now...then you have a displacement and a speculative bubble.