WaPo: Obama ‘Crackdown’ Has No Teeth

Wednesday, 18 Apr 2012 09:44 AM

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
President Barack Obama’s crackdown on gas market manipulation is little more than an election year ploy that will do little to lower prices at the pump, The Washington Post said in an editorial.

The Post noted that Obama asked “Congress to spend $52 million on more oversight, to allow regulators to set higher capital requirements in oil markets, and to mandate a few other steps.

“Many of the policies Mr. Obama proposed are fine — technology upgrades at the Commodity Futures Trading Commission (CFTC), for example. Yet the administration can’t offer any satisfying explanation for why they are so necessary as to require emergency congressional action. The only emergency seems to be a mindless election-year war over who’s to blame for sustained high gas prices — a question for which Mr. Obama himself has repeatedly given the most reasonable answer: those shadowy actors called supply and demand.”

Previous inquiries into gas price manipulation in 2006 and 2008 turned up little and recent history shows that gas prices depend primarily on supply and demand and the president’s plan will not make much of a difference at the pump.

“As the president has said, the real answer is not to give voters hope in false solutions — which Mr. Obama’s rhetoric Tuesday can’t help but do — but to slowly but surely get America off oil,” the Post concluded.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Blasts, Gunfire in Kabul After Suicide Bomber Hits UK Embassy Car

Thursday, 27 Nov 2014 07:49 AM

Gunfire and explosions rocked Kabul Thursday as Taliban militants attacked a central district that houses several embass . . .

Pope Condemns Islamic State Violence

Thursday, 27 Nov 2014 12:33 PM

On the eve of a trip to the Middle East, Pope Francis is urging religious and political leaders to speak out against att . . .

Breitbart: Govt Report Says Congress Can 'Defund' Amnesty

Thursday, 27 Nov 2014 12:05 PM

Breitbart News reports that the Congressional Research Service , a nonpartisan branch of the Library of Congress , concl . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved