Tags: pelosi | gas | prices | wall | street

Pelosi Blames Wall Street for High Gas Prices

Thursday, 23 Feb 2012 12:49 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Democrats from President Barack Obama on down are concerned about the impact of rising gasoline prices on their re-election chances. So it probably should come as no surprise that House Minority Leader Nancy Pelosi blames Wall Street for the increase, as The Hill reports.

Experts in the oil market say the price gain stems from Iran’s threat to block oil shipments from the Persian Gulf. Regular gasoline prices now averaging $3.58 a gallon and have risen almost 20 cents in the last month, according to AAA. Many experts anticipate prices will surpass $4 soon.

As for Pelosi, "Wall Street profiteering, not oil shortages, is the cause of the price spike," she said Wednesday. "Unfortunately, Republicans have chosen to protect the interests of Wall Street speculators and oil companies instead of the interests of working Americans by obstructing the agencies with the responsibility of enforcing consumer protection laws."

Presumably, she means oil traders. But that would include everyone from major oil companies to average individual investors.

Pelosi urged Congress to take "strong action" against excessive speculation. Meanwhile, Republicans urge Democrats to allow more domestic energy production.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  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

Former Conn. Gov. Rowland Found Guilty of Campaign Law Violations

Friday, 19 Sep 2014 15:40 PM

Former Connecticut Governor John Rowland violated U.S. election laws by taking under-the-table payments from a business  . . .

Rubio Distances Himself From Cruz, Paul

Friday, 19 Sep 2014 13:21 PM

U.S. Senator Marco Rubio further separated himself from other potential Republican presidential contenders in his chambe . . .

Rubio Breaks Again From Cruz, Paul by Backing Syria Rebel Plan

Friday, 19 Sep 2014 13:00 PM

Sen. Marco Rubio further separated himself from other potential Republican presidential contenders in his chamber by sup . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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