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Oil price manipulation seldom prosecuted under Obama

Reuters -- (Reuters) - President Barack Obama's administration has brought only one new case alleging energy market price manipulation since he took office in 2009, despite more tough talk about it this week amid soaring prices at the gasoline pump.

If that seems like a lackluster enforcement record for a president eager to look assertive on oversight of oil and natural gas markets in an election year, it may be for good reason.

Experts said there is little evidence of widespread manipulation in these markets and, in any case, lawyers with experience in the field said such cases are difficult to prove.

The administration on Thursday announced a $14 million settlement with Dutch trading firm Optiver in an oil market manipulation case, but that case had initially been brought in 2008 under the

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Submitted Apr 22, 2012 By: aservant

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bra0712 Champion Author Arizona Posts:3,655 Points:765,870 Joined:Nov 2008	Message Posted: Apr 22, 2012 7:30:08 PM Ignore bra0712 Report Abuse Worthless Obama
TXGasPriceSpy Champion Author Fort Worth Posts:7,795 Points:1,469,350 Joined:Sep 2008	Message Posted: Apr 22, 2012 7:24:31 PM Ignore TXGasPriceSpy Report Abuse Obama must go.
REVLAW Champion Author San Antonio Posts:10,420 Points:2,004,320 Joined:Jul 2007	Message Posted: Apr 22, 2012 7:23:41 PM Ignore REVLAW Report Abuse The HO continues to react rather than act because he lacks foresight to plan and lead. Can you say "knee jerk reaction" because of the election cycle.
dancygreen Champion Author Twin Cities Posts:2,048 Points:481,860 Joined:Sep 2011	Message Posted: Apr 22, 2012 7:23:25 PM Ignore dancygreen Report Abuse the manipulation is pretty evident, even without "experience in the field"- perhaps he could use the law he signed but "would never use" and throw them all in jail- without benefit of habeus corpus-until they lower prices.
duffee01 All-Star Author Mississippi Posts:776 Points:426,515 Joined:Sep 2011	Message Posted: Apr 22, 2012 7:21:47 PM Ignore duffee01 Report Abuse Hello??? We know that it's election time and he doesn't do anything that doesn't have to do with playing the publics emotional state of mind.
ramman2012 Champion Author Edmonton Posts:2,318 Points:495,285 Joined:May 2011	Message Posted: Apr 22, 2012 7:16:46 PM Ignore ramman2012 Report Abuse Ok
nimpy Champion Author Indianapolis Posts:8,120 Points:1,698,080 Joined:Oct 2007	Message Posted: Apr 22, 2012 7:16:17 PM Ignore nimpy Report Abuse this is the speculators at their best
dlemma Champion Author Wyoming Posts:4,091 Points:1,552,095 Joined:Feb 2008	Message Posted: Apr 22, 2012 7:14:58 PM Ignore dlemma Report Abuse there are no manipulators - this is Obama's BIG LIE. Take your eyes off the facts - look over here at my fake accusations.
dlemma Champion Author Wyoming Posts:4,091 Points:1,552,095 Joined:Feb 2008	Message Posted: Apr 22, 2012 7:14:18 PM Ignore dlemma Report Abuse He has looked and looked through his criminal Dept of Justice to TRY to prove there is manipulation - THERE IS NONE.
pgerassi Champion Author Milwaukee Posts:10,882 Points:2,129,500 Joined:Apr 2007	Message Posted: Apr 22, 2012 7:13:56 PM Ignore pgerassi Report Abuse I'd prosecute them into doing hard time in a maximum security prison. They are economic terrorists.
FlyNFool Champion Author South Carolina Posts:8,224 Points:1,681,950 Joined:Aug 2008	Message Posted: Apr 22, 2012 7:10:32 PM Ignore FlyNFool Report Abuse Are we really surprised?
eswi Champion Author Madison Posts:2,530 Points:680,455 Joined:Mar 2009	Message Posted: Apr 22, 2012 7:09:39 PM Ignore eswi Report Abuse OK
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Apr 22, 2012 7:07:06 PM Ignore tippybuddy Report Abuse talk talk
walkingtall Champion Author Toronto Posts:3,984 Points:1,118,755 Joined:Nov 2004	Message Posted: Apr 22, 2012 7:04:40 PM Ignore walkingtall Report Abuse All talk,no action.
gmcgas Champion Author Atlanta Posts:5,937 Points:1,711,145 Joined:Mar 2004	Message Posted: Apr 22, 2012 7:03:54 PM Ignore gmcgas Report Abuse and its taken 3 years for some to figure that out.
DTroytNC Veteran Author Charlotte Posts:366 Points:62,510 Joined:Jan 2012	Message Posted: Apr 22, 2012 7:03:20 PM Ignore DTroytNC Report Abuse Ok
Ticoman54 Champion Author Miami Posts:7,031 Points:1,489,095 Joined:Oct 2008	Message Posted: Apr 22, 2012 7:01:49 PM Ignore Ticoman54 Report Abuse Only BS from Obama.
milespergallon Champion Author Illinois Posts:9,734 Points:1,906,410 Joined:Feb 2007	Message Posted: Apr 22, 2012 6:59:30 PM Ignore milespergallon Report Abuse They put too much in the heading. It was sufficient with: 'Oil price manipulation seldom prosecuted' unless thy wanted to say: IF VER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
roundtrip100 Champion Author Fort Wayne Posts:1,993 Points:394,025 Joined:Apr 2012	Message Posted: Apr 22, 2012 6:58:48 PM Ignore roundtrip100 Report Abuse Ok
spunky4443 Champion Author Washington Posts:5,281 Points:1,329,695 Joined:May 2005	Message Posted: Apr 22, 2012 6:57:16 PM Ignore spunky4443 Report Abuse What about Bush, what did he do, probably nothing.
30mpg80 Champion Author Lexington Posts:10,003 Points:1,484,930 Joined:Nov 2008	Message Posted: Apr 22, 2012 6:56:44 PM Ignore 30mpg80 Report Abuse Wall Street crime gets a pass, as usual
yeehaw1073 Champion Author Indiana Posts:2,341 Points:1,847,275 Joined:May 2004	Message Posted: Apr 22, 2012 6:52:49 PM Ignore yeehaw1073 Report Abuse How does that compare to previous administrations? About the same I'd guess...
gumbyrex Champion Author Fresno Posts:3,281 Points:756,040 Joined:Mar 2011	Message Posted: Apr 22, 2012 6:48:15 PM Ignore gumbyrex Report Abuse What's the Obama administration's problem? By not prosecuting, they are condoning market manipulation.
davenles Champion Author Texas Posts:3,181 Points:715,635 Joined:May 2011	Message Posted: Apr 22, 2012 6:48:06 PM Ignore davenles Report Abuse Is anyone surprised?
us30ride Champion Author Fort Wayne Posts:3,315 Points:709,610 Joined:Apr 2011	Message Posted: Apr 22, 2012 6:46:54 PM Ignore us30ride Report Abuse So is the $14 million going to be rebated?
WestMichigan Champion Author Grand Rapids Posts:2,463 Points:551,940 Joined:Mar 2011	Message Posted: Apr 22, 2012 6:45:47 PM Ignore WestMichigan Report Abuse ok
Blue48 Champion Author Illinois Posts:7,290 Points:1,634,920 Joined:Feb 2007	Message Posted: Apr 22, 2012 6:45:25 PM Ignore Blue48 Report Abuse DUH! ALL TALK & NO SHOW!
gsofrs Champion Author Greensboro Posts:4,138 Points:1,214,515 Joined:Apr 2009	Message Posted: Apr 22, 2012 6:45:10 PM Ignore gsofrs Report Abuse Lack of action to maintain votes and lobby $$$.
netman044 Champion Author Texas Posts:6,848 Points:1,287,525 Joined:Sep 2005	Message Posted: Apr 22, 2012 6:44:57 PM Ignore netman044 Report Abuse Political garbage. Why should we expect anything else?
skyking19 Champion Author Little Rock Posts:1,995 Points:1,695,970 Joined:Jan 2007	Message Posted: Apr 22, 2012 6:42:48 PM Ignore skyking19 Report Abuse Posturing!
ss70 Champion Author Detroit Posts:9,639 Points:1,867,175 Joined:Sep 2005	Message Posted: Apr 22, 2012 6:41:54 PM Ignore ss70 Report Abuse Obamda admin makes lot of noise but no great steps
slowpoke63 Champion Author Louisiana Posts:2,727 Points:885,040 Joined:Jul 2009	Message Posted: Apr 22, 2012 6:41:29 PM Ignore slowpoke63 Report Abuse surprise
FFootdoc12 All-Star Author Illinois Posts:849 Points:306,775 Joined:Apr 2008	Message Posted: Apr 22, 2012 6:38:42 PM Ignore FFootdoc12 Report Abuse is this really news?
pickledude72 Champion Author California Posts:1,120 Points:835,495 Joined:Jul 2008	Message Posted: Apr 22, 2012 6:37:23 PM Ignore pickledude72 Report Abuse First requirement for getting tough...... you have to have a spine
kosciak Champion Author Hartford Posts:1,106 Points:532,025 Joined:Aug 2011	Message Posted: Apr 22, 2012 6:36:16 PM Ignore kosciak Report Abuse ok
GLM4205 Champion Author Toledo Posts:4,042 Points:797,370 Joined:Dec 2010	Message Posted: Apr 22, 2012 6:34:28 PM Ignore GLM4205 Report Abuse I don't remember any president going after this sort of criminal. It seems like it has been happening forever
singlemom27 Champion Author Ventura Posts:3,093 Points:636,785 Joined:Apr 2011	Message Posted: Apr 22, 2012 6:34:17 PM Ignore singlemom27 Report Abuse The real manipulation is via speculation...which is legal, but shouldn't be.
dhdiesel Veteran Author Riverside Posts:400 Points:44,800 Joined:Feb 2012	Message Posted: Apr 22, 2012 6:33:44 PM Ignore dhdiesel Report Abuse What would you expect from a White House that pressured scientists to underestimate the magnitude and repercussions of the BP oil spill?
theschmuck Champion Author Michigan Posts:2,902 Points:1,508,600 Joined:Mar 2007	Message Posted: Apr 22, 2012 6:32:48 PM Ignore theschmuck Report Abuse That's just like saying that we're going to throw ourselves in jail for cheating, yeah - that I'd like to see.
aggietim Champion Author Fort Worth Posts:1,751 Points:691,350 Joined:Oct 2008	Message Posted: Apr 22, 2012 6:32:27 PM Ignore aggietim Report Abuse politics
DustyHorse Champion Author Virginia Posts:6,067 Points:1,387,845 Joined:Oct 2008	Message Posted: Apr 22, 2012 6:30:19 PM Ignore DustyHorse Report Abuse All talk a no action.
crowefamily1 All-Star Author Texas Posts:804 Points:297,100 Joined:Sep 2006	Message Posted: Apr 22, 2012 6:29:40 PM Ignore crowefamily1 Report Abuse yea like they are going to investigate themselves and find a problem.
jdc17327 Champion Author Pennsylvania Posts:2,555 Points:197,565 Joined:May 2009	Message Posted: Apr 22, 2012 6:25:34 PM Ignore jdc17327 Report Abuse really!
CVA19 Champion Author Salem Posts:2,393 Points:606,850 Joined:Aug 2011	Message Posted: Apr 22, 2012 6:22:11 PM Ignore CVA19 Report Abuse One administration and/or congress after another--both political parties--has been down the "oil-market-manipulation-investigation" road. Every time, with the same result--it isn't happening; at least not to any extent that warrants the costly investigations in the first place.
rf6480 Champion Author Miami Posts:1,533 Points:546,210 Joined:Mar 2011	Message Posted: Apr 22, 2012 6:22:07 PM Ignore rf6480 Report Abuse because they are all making millions, and passing it on to the campaign etc. Just like keeping drugs illegal. The gov't would loose too much money to change. But 1 man is not for sale.
commins Champion Author Riverside Posts:1,983 Points:1,053,005 Joined:Feb 2009	Message Posted: Apr 22, 2012 6:18:25 PM Ignore commins Report Abuse Obama, it's called TYRANNY
Mowerman08 Champion Author Milwaukee Posts:4,745 Points:1,215,070 Joined:Aug 2008	Message Posted: Apr 22, 2012 6:14:19 PM Ignore Mowerman08 Report Abuse Obama likes high gas prices, don't you remember!
200porter Champion Author Toronto Posts:2,050 Points:539,210 Joined:Sep 2011	Message Posted: Apr 22, 2012 6:14:14 PM Ignore 200porter Report Abuse They need to stay on top on these people
livedream Champion Author Michigan Posts:3,664 Points:751,060 Joined:Mar 2011	Message Posted: Apr 22, 2012 6:14:12 PM Ignore livedream Report Abuse Good point, TDIdave -- "I don't remember Dubya prosecuting any manipulators." This doesn't excuse the current President's failure to enforce regulation of the futures commodity market speculation -- He could definitely do more to stop the speculation of oil -- But he also is NOT the first President to allow Wall Street to run amok. BOTH parties are guilty of this! [Edited by: livedream at 4/22/2012 9:18:39 PM EST]
KMaria13 Rookie Author Raleigh Posts:60 Points:12,930 Joined:Apr 2012	Message Posted: Apr 22, 2012 6:13:32 PM Ignore KMaria13 Report Abuse What you really want is.....
ericbcire Champion Author Nevada Posts:4,505 Points:1,264,460 Joined:Aug 2009	Message Posted: Apr 22, 2012 6:12:41 PM Ignore ericbcire Report Abuse Raise margin requirements now.
TDIdave Champion Author California Posts:5,043 Points:1,221,715 Joined:May 2006	Message Posted: Apr 22, 2012 6:12:25 PM Ignore TDIdave Report Abuse I don't remember Dubya prosecuting any manipulators.