I saw this Reuters/Argus version and couple others but its just liberal media making big deal about the Obama/Democrats going looking for cause – only good thing is this time they are at least focused on speculators as cause. Unfortunately they already left Saudi’s off hook & they just cut production by 800MBD in face rising prices & dropping US$ value – mostly just pissed & sending message about handling of Egypts Mubarak to Obama. Course they were already at peak production they cannot keep up & so think their ability to make past impacts has long since gone due to their cash flow needs.
Below is lead better version item/story link – which I liked and makes better version for you to key off – that US government goes at this almost every 4 years in spring time (pre election years) when prices go off scale but they already have Big oil as cause in gunsights, dismiss Wallstreet because they need contributors for campaigns & exempt Saudi’s cause they dont have courage to take down this cartel which is illegal for any other commodity except oil??
Holder is idiot and is starting with price oil but isnt looking that hard at speculators buying 4X the oil on trading floor that all consumers take as physical barrels – its also why fundamentals on oil price havent really tracked oil /gas prices since 2005.
It’s Spring, Which Means The Government Is Investigating High Gas …
April 27, 2011 … Rising gas prices, in turn, bring government investigations. … These studies almost uniformly discover that amazingly the cause of price increases is an … by the U.S. government pushes down the value of the American dollar. … Of course, there is some manipulation of oil prices; it’s what … See story @ http://www.businessinsider.com/investigation-season-2011-4
Regards
