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No Cap on Gas Prices

WSJ -- With a little more than six months to go before Election Day and with gas prices averaging $3.90 a gallon, the president called on Congress to pass new laws to help prevent financial speculators from driving up gas prices.

Stirring words, but ones unlikely to have any impact on gas prices. The measures Mr. Obama endorsed require congressional approval, and no one expects Congress to pass any of them.

There are things Mr. Obama could do under current law to rein in manipulation. For instance, investigate oil producers, refiners and traders. A year ago, he announced a "working group" of government regulators and law-enforcement agencies that would "root out any cases of fraud and manipulation."

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Submitted Apr 22, 2012 By: mobal

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FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Apr 23, 2012 6:55:06 PM Ignore FunMyster Report Abuse ok
52MPG Champion Author Dayton Posts:7,277 Points:1,744,630 Joined:Apr 2006	Message Posted: Apr 23, 2012 5:07:33 PM Ignore 52MPG Report Abuse Politicking.
dave27johnson Champion Author Chicago Posts:1,790 Points:410,860 Joined:Feb 2012	Message Posted: Apr 23, 2012 4:29:52 PM Ignore dave27johnson Report Abuse Yes, he should do more to stop fraud and manipulation.
gawxnative All-Star Author Atlanta Posts:510 Points:229,965 Joined:Aug 2006	Message Posted: Apr 23, 2012 1:12:15 PM Ignore gawxnative Report Abuse HMMMM
sparky808 Champion Author Honolulu Posts:3,013 Points:600,660 Joined:Sep 2011	Message Posted: Apr 23, 2012 10:39:44 AM Ignore sparky808 Report Abuse Thank you for posting.
bowler360 Champion Author Illinois Posts:1,985 Points:502,475 Joined:Jun 2011	Message Posted: Apr 23, 2012 6:10:26 AM Ignore bowler360 Report Abuse He's been lack luster at best. Time to replace.
KAR120CSII Champion Author Oregon Posts:3,193 Points:623,520 Joined:Apr 2010	Message Posted: Apr 23, 2012 12:15:18 AM Ignore KAR120CSII Report Abuse Full article -- all there was was another paragraph. This was not worth posting.
Travel1st Champion Author Las Vegas Posts:2,935 Points:473,585 Joined:Aug 2011	Message Posted: Apr 22, 2012 11:55:52 PM Ignore Travel1st Report Abuse Surprise.
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Apr 22, 2012 9:55:28 PM Ignore Agarre Report Abuse Elections time
quasar502 Champion Author Lansing Posts:3,593 Points:803,300 Joined:Jan 2011	Message Posted: Apr 22, 2012 9:40:04 PM Ignore quasar502 Report Abuse The House is the real culprit.
chuckwthompson Champion Author Charlotte Posts:3,765 Points:579,135 Joined:Sep 2011	Message Posted: Apr 22, 2012 9:35:29 PM Ignore chuckwthompson Report Abuse Too little, too late! Vote 2012
stopforgas All-Star Author Mississippi Posts:996 Points:481,705 Joined:Jun 2011	Message Posted: Apr 22, 2012 9:34:55 PM Ignore stopforgas Report Abuse This will piss off the Grand Oil Party.
computernut2008 Champion Author Ohio Posts:6,585 Points:1,352,455 Joined:Oct 2008	Message Posted: Apr 22, 2012 9:32:57 PM Ignore computernut2008 Report Abuse thief
vegboy All-Star Author Massachusetts Posts:550 Points:106,700 Joined:Feb 2012	Message Posted: Apr 22, 2012 9:32:38 PM Ignore vegboy Report Abuse Stop the taxpayers money to subsidies for big oil
flagman420CT Veteran Author New Haven Posts:257 Points:690,030 Joined:Mar 2011	Message Posted: Apr 22, 2012 9:30:29 PM Ignore flagman420CT Report Abuse Obama is Useless!!!!!!!!!!
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Apr 22, 2012 9:24:51 PM Ignore tedjm1 Report Abuse Put a cap on tax amount, both federal & state.
Digger52 Champion Author Chicago Posts:2,417 Points:850,885 Joined:Aug 2008	Message Posted: Apr 22, 2012 9:24:16 PM Ignore Digger52 Report Abuse Right. . .
hemiMI Veteran Author Michigan Posts:260 Points:407,585 Joined:May 2011	Message Posted: Apr 22, 2012 9:24:02 PM Ignore hemiMI Report Abuse All you have to do is look where this article is coming from. Can you say "spin"?.
Zonk Champion Author Michigan Posts:6,496 Points:2,104,940 Joined:Oct 2005	Message Posted: Apr 22, 2012 9:23:49 PM Ignore Zonk Report Abuse Don't expect the obama administration to do anything on this issue. Like obama, his administration is nothing but words.
Matt G Champion Author Boston Posts:4,543 Points:2,774,990 Joined:Jun 2004	Message Posted: Apr 22, 2012 9:23:15 PM Ignore Matt G Report Abuse Ok
passin_gas2011 All-Star Author Ohio Posts:750 Points:143,170 Joined:Sep 2011	Message Posted: Apr 22, 2012 9:19:15 PM Ignore passin_gas2011 Report Abuse the polititions are paid off,,they get """gifts"""..from speculators,,and big oil,,,so it doesnt matter
umitb Champion Author Indianapolis Posts:3,686 Points:845,390 Joined:Apr 2010	Message Posted: Apr 22, 2012 9:16:37 PM Ignore umitb Report Abuse ok
unicornpmb Champion Author Buffalo Posts:8,501 Points:1,631,465 Joined:Sep 2005	Message Posted: Apr 22, 2012 9:16:16 PM Ignore unicornpmb Report Abuse Just a little late.
jem069 Champion Author Detroit Posts:2,553 Points:690,005 Joined:Jan 2011	Message Posted: Apr 22, 2012 9:15:59 PM Ignore jem069 Report Abuse Ok
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Apr 22, 2012 9:15:42 PM Ignore Blue_Cruzer Report Abuse What a farce, too little, too late, for me.
kgbellman Champion Author Ann Arbor Posts:2,728 Points:734,765 Joined:Mar 2011	Message Posted: Apr 22, 2012 9:09:49 PM Ignore kgbellman Report Abuse Hard to remember that Congress should be "by and for the people"
ssect8 Champion Author Hartford Posts:8,004 Points:2,094,720 Joined:Jun 2006	Message Posted: Apr 22, 2012 9:07:12 PM Ignore ssect8 Report Abuse NemoIL has the right idea, but it will never happen.
Petrothirst Champion Author Los Angeles Posts:2,286 Points:418,865 Joined:Nov 2005	Message Posted: Apr 22, 2012 9:05:03 PM Ignore Petrothirst Report Abuse "With a little more than six months before the election...",I'n asking why hasn't something happened before now? It's becaue this is just another empty campaing lie designed to get vots.
69Bonne Champion Author Gary Posts:1,165 Points:476,075 Joined:Sep 2005	Message Posted: Apr 22, 2012 9:01:56 PM Ignore 69Bonne Report Abuse I agree with NemoIL. That is the only way this will get resolved.
Focus2 Champion Author Illinois Posts:7,896 Points:1,920,395 Joined:Mar 2006	Message Posted: Apr 22, 2012 9:01:48 PM Ignore Focus2 Report Abuse Ending regulations is just what brought this country down and it was not Democrats.
jci25946 Champion Author Tampa Posts:3,276 Points:941,740 Joined:Jan 2006	Message Posted: Apr 22, 2012 9:00:31 PM Ignore jci25946 Report Abuse More smoke to look like he's doing something!!
jjfisher All-Star Author Toledo Posts:547 Points:750,960 Joined:Aug 2008	Message Posted: Apr 22, 2012 8:59:08 PM Ignore jjfisher Report Abuse It's all about timeing, isnt' it. It's election time again.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Apr 22, 2012 8:56:34 PM Ignore 96sc1 Report Abuse I'm sure that, come Fall, Obama will be making hay of obstructionists failing to support his proposed solution.
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,635 Joined:Dec 2010	Message Posted: Apr 22, 2012 8:54:29 PM Ignore PoohMcGoo Report Abuse He's desperate.
kgbellman Champion Author Ann Arbor Posts:2,728 Points:734,765 Joined:Mar 2011	Message Posted: Apr 22, 2012 8:53:18 PM Ignore kgbellman Report Abuse Hard to remember that Congress should be "by and for the people"
SandyS2 Rookie Author Ontario Posts:22 Points:58,690 Joined:Apr 2012	Message Posted: Apr 22, 2012 8:51:27 PM Ignore SandyS2 Report Abuse ok
Focus2 Champion Author Illinois Posts:7,896 Points:1,920,395 Joined:Mar 2006	Message Posted: Apr 22, 2012 8:51:22 PM Ignore Focus2 Report Abuse The CFTC hinted they were going to do something several times, going back to the Bush administration in 2008.
letterchunker Champion Author Texas Posts:2,245 Points:667,675 Joined:Aug 2008	Message Posted: Apr 22, 2012 8:50:25 PM Ignore letterchunker Report Abuse There are things Mr. Obama could do under current law to rein in manipulation, but it's a joke if you think he will do anything to jeopardize getting gas prices higher so he can force his green crap down our throats.
DriverofRed Champion Author Calgary Posts:2,188 Points:414,810 Joined:Dec 2011	Message Posted: Apr 22, 2012 8:47:18 PM Ignore DriverofRed Report Abuse ok
HYEgasCA Champion Author Fresno Posts:2,111 Points:912,500 Joined:Dec 2008	Message Posted: Apr 22, 2012 8:42:23 PM Ignore HYEgasCA Report Abuse Thats right freedom sailor!! Congress is just for the wealthy people. Obama's for us!! He needs to take from the rich and give it you YOU and ME!! We deserve it!!They stole it anyway. Right!!
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Apr 22, 2012 8:41:59 PM Ignore mstearno Report Abuse capping causes shortages causing panic
Taurus1 Champion Author Ohio Posts:3,140 Points:1,676,425 Joined:Apr 2006	Message Posted: Apr 22, 2012 8:41:34 PM Ignore Taurus1 Report Abuse ok
Fitwit Champion Author Stockton Posts:6,409 Points:1,357,820 Joined:May 2009	Message Posted: Apr 22, 2012 8:40:30 PM Ignore Fitwit Report Abuse Sure he will. When cows fly.
WinderGuy Champion Author Georgia Posts:2,879 Points:934,555 Joined:Mar 2008	Message Posted: Apr 22, 2012 8:38:29 PM Ignore WinderGuy Report Abuse Ok
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Apr 22, 2012 8:37:51 PM Ignore granitestater Report Abuse Waste of time. "Speculation" does not influence market prices. Only hard-core Marxists believe that propaganda. See here... [Edited by: granitestater at 4/22/2012 11:39:25 PM EST]
armey Champion Author Oregon Posts:1,296 Points:310,355 Joined:Aug 2008	Message Posted: Apr 22, 2012 8:37:43 PM Ignore armey Report Abuse Well its about time!!
freedomsailor Champion Author Naples Posts:2,139 Points:412,620 Joined:Oct 2011	Message Posted: Apr 22, 2012 8:36:43 PM Ignore freedomsailor Report Abuse Congress does not work for citizens, just lobbists and big companies.
HYEgasCA Champion Author Fresno Posts:2,111 Points:912,500 Joined:Dec 2008	Message Posted: Apr 22, 2012 8:32:36 PM Ignore HYEgasCA Report Abuse Can someone please tell me what this loser has done for the United States?
HYEgasCA Champion Author Fresno Posts:2,111 Points:912,500 Joined:Dec 2008	Message Posted: Apr 22, 2012 8:31:44 PM Ignore HYEgasCA Report Abuse Shut-up Obama, you stupid loser!!
ItsMorph Champion Author Grand Rapids Posts:33,452 Points:3,188,105 Joined:Mar 2004	Message Posted: Apr 22, 2012 8:30:44 PM Ignore ItsMorph Report Abuse Yep, Barack's answer to everything: MORE government!