President Obama to Crack Down on Oil Manipulation

Wednesday, April 18, 2012

Oil derricks in Texas (Reto Fetz/flickr)

President Obama announced a crackdown on manipulation and speculation in the oil markets, calling for more government oversight of the oil markets, including increased funding and staffing for the Commodities Future Trading Commission and an increase in civil and criminal penalties for market manipulators. Tom Kloza, chief oil analyst at Oil Price Information Service, looks at Obama’s speech, oil speculation, and energy pricing.

Guests:

Tom Kloza

Produced by:

Ben Gottlieb

Comments [1]

listener

Is there any evidence of criminal conduct regarding speculation to justify more expensive government oversight or is this the next political gimmick hot on the heals of the Buffett Rule stunt with the media playing along as usual?

Considering the President's and Energy Secretary's past words on the need for higher fuel costs and the expensive regulations they impose, shouldn't the investigation on high prices begin with them?

At what point should the public be insulted by these obvious attempts at distraction by this administration which add even more to the ruinous debt for pure political reasons?

Apr. 18 2012 09:38 AM

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