Friday, April 22, 2011

Obama orders probe to find what's driving up gas prices

McClatchy reports:
President Barack Obama announced Thursday that his administration will investigate to see if fraud or manipulation in oil markets is behind the spike in gasoline prices.

"We are going to make sure that no one is taking advantage of the American people for their own short-term gain," Obama said at a town hall meeting in Reno, Nev.

He vowed that a broad government task force under Attorney General Eric Holder would "root out any cases of fraud or manipulation" in gasoline prices — "and that includes the role of traders and speculators."

For those who thought Barack Obama was so "intelligent": have you ever taken a class in microeconomics??

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