Obama to pitch $52M plan to regulate oil markets [Maxine Waters Dream Coming True]

Fox ^ | 4/17/12

[SoFloFreeper]

Under pressure to take action on rising gasoline prices, President Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

The White House plan, which Obama was to unveil Tuesday, is more likely to draw sharp election-year distinctions with Republicans than have an immediate effect on prices at the pump. The measures seek to boost spending for Wall Street enforcement at a time when congressional Republicans are seeking to limit the reach of federal financial regulations.

[SoFloFreeper]

Maxine, you remember, yearns to socialize the oil industry. The "Why So Socialist" JOKER is taking a step toward that dream today.

Democrats hate capitalism.

[woweeitsme]

This seems awful Carter-ish. Tell me...how did it turn out when Carter tried to regulate?

[Venturer]

It’s funny when Bush was President, gas prices were all the faultof he and his oil drilling pals.

Now with Obama it is someone elses fault and not his.

[Spok]

“Obama to pitch $52M plan to regulate oil markets”

Shortages, mismanagement, inefficiency, waste, apathy and corruption come immediately to mind.

[4yearlurker]

Say hello to gas lines again!

Odd or even?

[PGR88]

I’m convinced this sort of nonsense will carry on until the very day the US Gov’t goes bankrupt. Only then will it end.

[Army Air Corps]

Ping.

[abercrombie_guy_38]

I don’t know what his “plan” entails but someone needs to get to the bottom of the manipulation of the oil markets. That’s the primary reason why we’re seeing what’s been happening over the past couple of years. Investment banks and securities firms are making tons of money off of it and the American people being screwed.

[dennisw]

Yipee!!!!! More fat Federale paychecks for more dopes. Don’t bother applying if you are a white heterosexual male no-siree. These jobs in Obama’s new Petro-Administration are reserved for the usual affirmative buzzards that feast on your tax dollars....women, minorities, gays, trannies too I suppose

[Abundy]

Still, seeing a potential problem with speculators is not limited to Obama or Democrats or this election season. When gasoline hit $3 a gallon in 2006, George W. Bush launched an investigation, declaring Americans "don't want and will not accept ... manipulation of the market. And neither will I." Last year, as prices rose, Obama and Holder announced the creation of a task force to look into fraud in the energy markets.

So the third time is a charm?

I want to know which Obozo contributors will this enrich?

[3rdcoastislander]

Yep more government regulation is what we need! Just piss everyone off even more so they can drive up the price even more by speculating that these regulations will decrease production. Democrats are so eagar to throw away money it's ridiculous. Their only idea how to fix a problem is to throw money at it.

[Graewoulf]

Meanwhile the drumbeat of Dictator Obama grows louder:

regulate -— control -— destroy -— Regulate -— control -— destroy -— REgulate -— control -— destroy -— REGulate -— control -— destroy -— REGU

[ProtectOurFreedom]

More importantly, what happened when Reagan deregulated? Deregulation was not the highest priority in his economic program, but he did ease or eliminate price controls on oil and natural gas, cable TV, long-distance telephone service, interstate bus service, and ocean shipping. Banks were allowed to invest in a somewhat broader set of assets, and the scope of the antitrust laws was reduced.

Surprisingly, Carter is the one who deregulated airlines which led to the huge drop in airfares.

[headstamp 2]

“I don’t know what his “plan” entails but someone needs to get to the bottom of the manipulation of the oil markets. That’s the primary reason why we’re seeing what’s been happening over the past couple of years. Investment banks and securities firms are making tons of money off of it and the American people being screwed.”

I watched the Palin special on Fox Saturday and they had a former SEC commissioner on there and he said words to the effect that no more than 10% of the market should be allowed to be speculated on. I missed the particulars though. Anybody see this guy?

[MrB]

Hopefully the scenario will go the route of
“the bastards who caused all this fleeing for their lives”

instead of
“the bastards who caused all this seizing complete power over OUR lives”

[tophat9000]

No Democrats love authoritarian dictatorship

[theBuckwheat]

But still no interest in properly regulating the silver market. Wonder why?

[pepsi_junkie]

Obama: "We've just got to do something about these gas prices, they're killing my chances! Any ideas?"

Hack #1: "Well, maybe open the gulf back up for drilling?"

Obama: "Are you crazy? Come on, people, serious ideas only!"

Hack #2: "Well, there was that whole keystone pipeline thing..."

Obama: "Now I'm getting mad. What is that thing, a vampire? I thought I put a stake in it's heart but it keeps coming back."

Hack #3: "I just don't see how we can do much without imposing a stifling beurocracy and excessive regulations..."

Obama: "Finally a good idea! Regulations! Fantastic!"

Hack #3: "But wait, I meant that would be bad"

Obama: "Not now, I'm on a roll! Quick, let's get a press release together, we're going to regulate!"

[massgopguy]

OPEC says “EMBARGO!”

[jiggyboy]

It’s astonishing timing of this explicit call for higher margins at the CTFC. Silver now has an excuse for the usual pre-expiration smash-down, down pretty hard almost from the very minute the market opened. Don’t try to catch the falling silver knife before Friday expiration.