Apparently President Obama has discovered that the American people may be getting screwed at the gas pump, and has decided to use the power of his office to investigate the problem.
"We are going to make sure that no one is taking advantage of the American people for their own short-term gain," Obama said last week. Obama said he is launching a task force to "root out any cases of fraud or manipulation" in gasoline prices, including the role of traders and speculators.
What? Rich, greedy speculators driving up the cost of oil to make a profit, at the expense of us poor working slobs? Gee, do ya think that could happen? You bet your Chevron credit card!
Even with all of the turmoil going on in the Middle East, there has not been any significant interruption of oil production in the region, and oil supplies remain strong. But while we are all focused on the riots and revolutions abroad, financial speculators have been purchasing contracts for future oil delivery, driving up prices at the pump.
If you remember, back in the summer of 2008, diesel prices in some areas of the country topped out at over $5 a gallon. And then what happened?
The economy tanked, and the big money boys suddenly didn’t have the funds to keep playing their nasty little games. Oil prices dropped from a high of $147 a barrel in July, 2008 to just $32 a barrel by December! The greedy leeches that had been sucking the very lifeblood out of the economy went bust, and things got back to normal. But then what happened?
The federal government used billions of our tax dollars to bail out the banks, the rich boys suddenly had more money to play with, the rollercoaster ride started all over again, and you and I are back to taking it in the shorts! Isn’t that kind of like handing a thug your handgun so he can rob you with it?
Speculators, Mr. President? Gee, do ya think?
Tags: bank bailouts, diesel prices, financial speculators, gas prices, Middle East, oil prices, oil production, oil speculators, oil supplies, President Obama, prices at the pump, revolutions, riots, screwed at the gas pump, traders and speculators