Tags: pelosi | gas | prices | wall | street

Pelosi Blames Wall Street for High Gas Prices

Thursday, 23 Feb 2012 12:49 PM

By Newsmax Wires

  Comment  |
   Contact  |
  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.

  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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Jeb Bush Continues to Resign from Boards as 2016 Run Talk Grows

Thursday, 25 Dec 2014 07:59 AM

Former Florida governor Jeb Bush appears to be shedding his corporate directorships after having announced that he is ex . . .

Obama, Democrats to Quickly Exploit Economic Boost

Wednesday, 24 Dec 2014 09:29 AM

The economy's 5 percent year-end boost will provide President Barack Obama with an opportunity to exploit the positive e . . .

Jeb Bush Emails Show Hands-on, Workaholic Governor

Wednesday, 24 Dec 2014 08:15 AM

Fulfilling a pledge to make ethics and openness a hallmark of his Florida governorship, potential 2016 Republican presid . . .

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