[net-gold] UNITED STATES: GOVERNMENT : PETROLEUM : PRICES AND PRICING: Obama Blames Speculators for Rising U.S. Fuel Prices
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
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- Date: Sat, 23 Apr 2011 19:20:32 -0400 (EDT)
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UNITED STATES: GOVERNMENT :
PETROLEUM :
PRICES AND PRICING:
Obama Blames Speculators for Rising U.S. Fuel Prices
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Obama Blames Speculators for Rising U.S. Fuel Prices
By Jeff Mason
WASHINGTON
Wednesday April 20, 2011 6:00am EDT
Reuters
http://www.reuters.com/article/2011/04/20/
us-usa-energy-obama-speculators-idUSTRE73J1NN20110420
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A shorter URL for the above link:
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http://tinyurl.com/3n66e2s
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(Reuters) - U.S. President Barack Obama on Tuesday blamed speculators for
driving gasoline prices higher and straining American consumers, saying
there was enough oil in world markets to meet demand.
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Speaking at a community college in suburban Virginia, Obama said
increasing production of U.S. oil and creating a market for fuel-efficient
cars would help meet the country's energy challenges.
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"I know that if you've got a limited budget and you just watch that
hard-earned money going away to oil companies that will once again
probably make record profits this quarter, it's pretty frustrating," he
said.
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Rising fuel prices are a persistent concern for the White House, which is
worried about their impact on the economy and on voters' wallets as Obama
runs for re-election.
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Average U.S. gasoline prices hit $3.84 a gallon last week, the most
expensive since August 2008, as oil prices have soared above $100 a
barrel.
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BUSINESS
APRIL 22, 2011
White House's Task Force to Probe Oil, Gas Markets
By CAROL E. LEE
http://online.wsj.com/article/
SB10001424052748703983704576277144249681446.html
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A shorter URL for the above link:
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http://tinyurl.com/3z3btgq
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At Mr. Obama's request, the Justice Department announced Thursday that it
has created a task force to investigate the oil and gas markets, a move
some Democrats in Congress have advocated. "The attorney general is
putting together a team whose job it is to root out any cases of fraud or
manipulation in the oil markets that might affect gas prices, and that
includes the role of traders and speculators," Mr. Obama said during a
town hall event at a renewable energy company in Nevada. "We're going to
make sure that nobody's taking advantage of American consumers for their
own short-term gains."
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The White House has been wringing its hands over rising pump prices in
recent weeks, even as Mr. Obama was preoccupied by the budget battle with
House Republicans. Mr. Obama's approval ratings have dipped in tandem with
consumers' rising irritation at their increasing outlays for fuel. Higher
gas prices and other commodities have been fueling inflation-on an annual
basis, consumer prices were up 2.7% in March, the highest level since
December 2009, the Labor Department said earlier this month.
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"Another commission and task force isn't going to solve a problem that's
been going on for a long time," said Sean Spicer, communications director
for the Republican National Committee. "It's actual policies and action
that achieve results, not speeches and a commission."
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snip
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There are no simple or short-term solutions to the problem, which industry
analysts say reflects rising global demand, concerns about supply from
Middle Eastern oil nations grappling with political unrest, and a weak
dollar.
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Costly Gasoline Clouds Obama Re-Election Prospects
by The Associated Press
WASHINGTON
April 23, 2011, 05:48 pm ET
NPR
http://www.npr.org/templates/story/story.php?storyId=135660203
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With gas prices climbing and little relief in sight, President Barack
Obama is scrambling to get ahead of the latest potential obstacle to his
re-election bid, even as Republicans are making plans to exploit the
issue.
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No one seems more aware of the electoral peril than Obama himself.
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"My poll numbers go up and down depending on the latest crisis, and right
now gas prices are weighing heavily on people," he told Democratic donors
in Los Angeles this past week.
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In fact, Obama raised the issue unsolicited in a series of town meetings
in Virginia, California and Nevada that were ostensibly about his
deficit-reduction plan. And he made the gas spike the subject of his
weekly radio and Internet address Saturday.
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"It's just another burden when things were already pretty tough," he said.
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As Obama well knows, Americans love their cars and remain heavily
dependent on them, and they don't hesitate to punish politicians when the
cost of filling their tanks goes through the roof. Indeed, for presidents,
responding to sudden surges is a recurring frustration.
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Skyrocketing Gas Prices: Commuters Turn to Alternatives to Save Money
By BIANNA GOLODRYGA
(@biannagolodryga)
and JIM AVILA (@JimAvilaABC)
April 22, 2011
ABC News
http://abcnews.go.com/Business/skyrocketing-gas-prices-
commuters-turn-alternatives-save-money/story?id=13433048
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A shorter URL for the above link:
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http://tinyurl.com/43vzukx
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More people are looking to hybrid and fully electric cars.
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The all-electric Nissan Leaf won a prestigious award this week. Named
"World Car of the Year" at the New York Auto Show, the Leaf has no exhaust
pipe, no pollution, no fuel cap door and no ignition key.
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After tax incentives, it can cost as little as $20,000 and goes 100 miles
on an overnight charge - enough to handle the average American roundtrip
commute of 35 miles.
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"All of the statistics tell us that it is around 70 to 75 percent of daily
journeys are less than 50 miles a day," said Nissan Marketing Chief Brian
Carolin. "The range that this car will give you, even if the air
conditioner is on or the heater is on, it will easily get you back and
forth to work on a charge."
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Nissan concedes it's not a car for everyone, but Justin McNaughton, who
bought one of the first Leafs to hit the road last December, says it works
for him.
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"Just takes two seconds at home to operate at night and in the morning it
is charged. I go about my day. It is hardly ever below 89 percent
charged," said McNaughton. "When I get home, plug it in again and don't
think about it."
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The complete articles may be read at the URLs provided for each.
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