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How Many Times Can Obama Feign Outrage About Oil Speculation?

Obama Will Give Another Speech Today About Cracking Down On Oil Speculation.“President Obama will offer a plan Tuesday to boost oversight of oil markets and ‘crack down’ on potential manipulation, the White House said. Obama is slated to deliver a Rose Garden statement in the late morning, the latest in a slew of recent energy-related speeches and remarks as the White House seeks to limit political damage from high gasoline prices.”(Ben Geman, “Obama To Launch ‘Crack Down’ On Manipulation, Rigging Of Oil Markets,”The Hill, 4/17/12)

OBAMA’S SPEECH IS SO IMPORTANT THAT THE WHITE HOUSE CAN’T SAY IF IT HAS ANY IMPACT ON GAS PRICES

Yahoo News’ Olivier Knox: “White House punts on whether today’s Pres Obama announcement re: oil speculation would have any impact on gas prices.” (Olivier Knox, Twitter Feed, Accessed 4/17/12)

• Knox: “‘We would leave that to outside analysts to disentangle,’ senior administration officials tells reporters on conference call.” (Olivier Knox, Twitter Feed, Accessed 4/17/12)

“In Short: White House Won’t Describe Extent Of The Problem Of Oil Speculation, Won’t Predict Impact Of Today’s Announcement.” (Olivier Knox, Twitter Feed, Accessed 4/17/12)

NO SURPRISE SINCE OBAMA’S OIL SPECULATION TASK FORCE FORMED IN 2011 HASN’T DONE MUCH

Since Obama Announced A Task Force To Deal With Oil Speculation In April 2011, “The Group Has Met Only A Handful Of Times And Has Never Reported To The Public.” “When oil and gasoline prices soared last April, President Barack Obama announced to fanfare that the Department of Justice would lead a task force designed to root out manipulation of the oil market and gouging of consumers at the gas pump. Since then the group has met only a handful of times and has never reported to the public.” (Kevin G. Hall, “”Whatever Happened To Task Force On Oil Speculation?,” McClatchy, 3/1/12)

• “The Oil And Gas Price Fraud Working Group Has Met Only Four Or Five Times Since Its Creation Last April 21, And Most Of Those Meetings Came At The Time Of Its Inception.” (Kevin G. Hall, “”Whatever Happened To Task Force On Oil Speculation?,” McClatchy, 3/1/12)

Obama Promised The Group Would “Root Out Any Cases Of Fraud Or Manipulation” And That Its Scope Would Include “The Role Of Traders And Speculators.” “The Oil and Gas Price Fraud Working Group has met only four or five times since its creation last April 21, and most of those meetings came at the time of its inception. Back then, Obama promised that the group would ‘root out any cases of fraud or manipulation’ and noted that its scope would include the ‘role of traders and speculators.'” (Kevin G. Hall, “”Whatever Happened To Task Force On Oil Speculation?,” McClatchy, 3/1/12)

OBAMA’S FAMILIAR TACTIC IN 2011: BLAME SPECULATORS

“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.” (Jeff Mason, “Obama Blames Speculators For Rising Fuel Prices,” Reuters, 4/19/11)

• Obama : “The problem is, is that oil is sold on these world markets, and speculators and people make various bets, and they say, you know what, we think that maybe there’s a 20 percent chance that something might happen in the Middle East that might disrupt oil supply, so we’re going to bet that oil is going to go up real high. And that spikes up prices significantly.” (Barack Obama, Remarks At Northern Virginia Community College , Annandale, VA, 4/19/11)

OBAMA IN 2009: BLAME SPECULATORS

Reuters : “Obama Still Concerned About Oil Speculation: White House.” (Ayesha Rascoe and David Alexander, “Obama Still Concerned About Oil Speculation: White House,”Reuters, 6/18/09)

• “President Barack Obama Remains Concerned About Speculation In The Oil Markets Even Though He Has Not Proposed Concrete Steps To Rein It In, White House Spokesman Robert Gibbs Said On Thursday.” (Ayesha Rascoe and David Alexander, “Obama Still Concerned About Oil Speculation: White House,” Reuters, 6/18/09)

WAIT FOR IT… 2008: BLAME SPECULATORS

The Wall Street Journal ‘s Washington Wire: “Obama Takes Aim At Energy Speculators.” (“Obama Takes Aim At Energy Speculators,” The Wall Street Journal‘sWashington Wire 6/22/08)

The New York Times : “To Ease Gas Prices, Obama Eyes Speculators.” (Brian Knowlton, “To Ease Gas Prices, Obama Eyes Speculators,” The New York Times, 6/23/08)

• Obama Suggested Going After Oil Speculators To Ease Gasoline Prices.“Senator Barack Obama on Sunday proposed tightening the regulation of oil speculators in an effort to ease record high gasoline prices and address one of Americans’ top concerns.” (Brian Knowlton, “To Ease Gas Prices, Obama Eyes Speculators,” The New York Times, 6/23/08)