Horror… To Ease Gas Prices Barack Obama Moves to Control Oil Industry

But he’s not a socialist.

Barack Obama has a new plan to ease gas prices – He wants to take control of oil industry.
It’s the Maxine Waters plan.

Obama wants more government control on oil industry.
FOX News reported, via Free Republic:

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.

Obama plans to spell out his $52 million proposal Tuesday at the White House, where he will be joined by Attorney General Eric Holder.

Republicans have been hammering Obama on his energy policies, recognizing the political cost of high gas prices on the president. Obama’s plan would turn the tables on Republicans by taking aim at Wall Street’s role in the oil price chain.

Senior administration officials who put together the proposal said it aims to detect and deter illegal manipulation by energy speculators, the type of practices that many Democrats blame for the high cost of gasoline. The officials spoke on the condition of anonymity to discuss the plan ahead of Obama’s announcement.

This way he can stifle production even further!

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  • Chippy


    Marxists do that kind of thing.

  • Texmom

    “increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions”

    I actually don’t disagree with this part, depending on how legislation was written. I do think market manipulation is hurting a true free market capitalism. It is not allowing the actual market demands to determine price, but creates a false price, doesn’t it? I’m no economist, but that’s how it looks to me.

  • Petro

    HAHA…that video had me cracking up.

    Notice how she started to say socialize…then realize that is a “dirty word”….and re-explained her position.

    I have an idea…let’s let the body who spends hundreds of thousands of dollars in Vegas on retreats and the body who has racked up trillions of dollars of debt run the oil companies….

    …yeah, that’s the solution…

  • http://www.edmartinformissouri.com Tom63010

    Thank God the Republicans control the House of Representatives! I’m sure he would do what he wants with his Federal Departments and Executive Order!

  • Texmom

    p.s. Needless to say, I don’t want the government controlling the oil industry or any other industry. I just responded to the specific section of the article I quoted, not the video.

  • Militant Conservative

    Knew he would set his sights on the petroleum industry. between medical and oil he’d

    control your ability to get healthcare or go anywhere. Oil drives our WHOLE economy thus

    Obama would strangle America, it’s what socialists do. Obama has done nothing that is

    good for america. Nothing. This is why America HATES what he is doing to OUR country.

    Obama is a diseased individual, I have never seen a president that hates America any

    more than Obama. Sick pervert of an affirmative inaction zero.

    Powder is dry

  • robins111

    Someone better take Maximum, Maxine aside and tell her that these schemes don’t work, it was tried in Canada by a socialist Prime Minister, named Pierre Trudeau, (affectionately known as Turd-o) which set the economy back for at least 20 years. If she’s bound and determined to try this, it would be better to set fire to every oil facility in the US, it’d probably be cheaper, and more effective. If I was a cynical person, I’d think that this was a socialist ploy for power, which would give control to demonstratively unethical greenies and social engineers.

  • SpideyTerry

    Cause big government has done such a good job with everything else. Part of the reason everyone resists Obamacare is because this crew is too damned incompetent to run anything effectively. That’s why they’re in government; they couldn’t get jobs that require knowing what you’re doing.

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  • Taqiyyotomist

    What’s it called again when the state controls the means of production?

  • Sasja

    Government involvement, especially to this extent, does not a free market make. This is one, of many, problems of having an intrusive fed, or state, government.

    Then there is this:


  • Spider

    A large part of America don’t see a problem here.

    Many people truly believe the government can control prices. They have no understanding of markets, supply, demand.

    We are in a sad place where our president could even think of proposing something like this.

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  • dave

    government interference and regulation is the reason we have gas and oil supply and cost issues.

    “You are against totalitarianism or you are for it. There is no middle ground.” Ayn Rand

  • Valerie

    We can do so much better than this.

    OT — Bill Whittle is always worth watching.


  • mg4us

    200+ years to create a GREAT Nation, only 3+ years under Obama to destroy it!

    Even Obama’s pal Axelrod knows the destruction Obama has done and the choice before us this November 2012

    I just hope the country and economy makes it to November. . .

  • exsanguine

    “increase the amount of money energy traders are required to put behind their transactions”

    This I agree with. I can’t remember , or find quickly, the percentage amount the trader must put behind each contract he buys. But I remember it was an insanely small amount. Increasing the amount they ahve to back the contract with would hold down the wild eyed traders from spiking the system.

  • Adi

    Comrades, the tractor production is UP!

  • Valerie

    I have a young friend that thinks Obamacare is going to solve some of our insurance industry problems without affecting the market … I pointed out to him that the medical field and the electronics consumer products market are examples of markets that have been treated differently by the government, and asked him if he though medical progress had kept pace with electronics over the last few years. This will be a long discussion.

    Economics is called “the dismal science” and it is well-named. Our economic experience teaches us some miserable lessons: that charitable impulses tend to produce bad legislation and perverse results, that governmental control, for whatever good reason, results in higher prices, scarcity, retarded progress, and economic bubbles that burst in the most dismaying fashion.

    The last thing this country needs right now is for the administration that gave us the BP oil spill to have MORE control over our oil market.