Obama Wants To Lower Gas Prices, But Can He Actually Do It?

U.S. President Barack Obama, whose political fortunes are threatened by rising gasoline prices, proposed new measures on Tuesday to reduce oil market manipulation that are unlikely to get support from a divided Congress.

Obama called on lawmakers to raise civil and criminal penalties on individuals and companies involved in manipulative practices.

He also pressed for more money to fund the agency charged with policing the markets to hire "more cops" for oversight and upgrade old technology.



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PLAY - 4/18/2012 8:58:20 PM

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Probably not, there is actually a large global surplus at the moment, supply and demand is not the problem. What he needs to do is alleviate global fears over an Israeli strike against Iran. He must make it explicit to the Israelis that the United States will not support a strike. Israel will get the message and most likely shelve a strike if they lack the support or blind eye of the United States.

800over - 4/23/2012 4:36:28 PM

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Tool of the day award goes to: Badgewhore!

iamdabest1 - 4/20/2012 1:04:13 AM

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you have to be pretty stupid if you think a country with a population of 6 million ( israel ) has an impact on the world oil prices..

the real problem is USA and other world powers have no integrity and support the oil terrorists rather than putting them on their knees by boycotting them.