Not one word about the real culprit of spiking prices, The Bernank. It should be fun watching the JD Keystone Cops trying to sort this one out.
Faced with the prospect of $5-a-gallon gas this summer, President Obama said today his Justice Department is creating a team to "root out any cases of fraud or manipulation in the oil markets that might affect gas prices."
"That includes the role of traders and speculators," Obama said at a town hall-style meeting in Reno, Nev. "We are going to make sure that no one is taking advantage of American consumers for their own short-term gain."
"This gas issue is serious," Obama said, adding that the best solution is developing alternative energy sources.
The Justice Department is also looking at allegations of price gouging, said Obama, who devoted most of his remarks to his plan to reduce the nation's $14 trillion-plus debt. |