Rising oil prices,why doesn't Obama fix it?

Haven't you noticed what happens when government fixes something, it becomes worse than it was.

It's probably being manipulated again like when oil hit $130 a barrel. Morgan stanley got away with that and using the media to plant bogus stories and guess what the Congress eased up on regulations so they could do it and they didn't even have to keep records. Google it interesting read. those traders should be in jail as they robbed us good.

Right now the CTFC (commodity futures trading commission) is investigating JP Morgan Chase and how they manipulated the metals market on silver. Google this as it is interesting the guy testifying just got out of the hospital as he and wife were victim of hit and run. The testimony was televised but somehow his five minutes were not seen as they had technical difficulties. Interesting. It may be noted that ones in the past that came forth to testify got killed in unusual ways.

But actually there is an oil glut and has been. Anyone in the oil patch working overseas will tell you that the OPEC nations overproduce by 1-2 million barrels a day. Remember the tankers sitting off our shores when the price stated to drop. Think about it we only have the same refinery capacity that we had in the 1970s. So it's all smoke and mirrors and Congress needs to give up some of the billions* they have donated to them every year and look out for us.

Come to think aobut it since the administration is taking over autos, banks insurance companies, why not the traders.

Even with the dollar getting batted around and inflation pice should be no more than $60 at the very tops and I mean top. Have a fun spring.

Obama is president, he has almost no control over the market, you would have to be a Washington lobbyist to accomplish that kind of a goal. Partly a joke, but the new "regulations" on the financial sector are being written by Wall St., they have spent over 500 million on it already. Money well spent.

Congress could offset demand by releasing reserves but honestly the prices aren't that bad, they always go up in the Spring / Summer anyway.

Plus, when demand goes up, prices go up, and people downsize cars and limit driving habits, which therefore lower demand.

Another thing, the prices have actually not kept up with inflation, as much as we would like to complain about "OPEC's Monopoly", they have actually sold us oil really cheap. The price should be somewhere around 5-6 per gallon inflation adjusted. The complaint about oil monopoly is also disingenuous due to the fact that these countries need to sell oil just as badly as we need it ..

It's an international market. It's traded on the stock market. He passed a law raising MPG of future cars. That's what he CAN do, and he did it. The price of oil went thru the roof when bushbush cost the $US 49 cts. Amazing. Obama has given the $US back 13 cts in only 14 months. Now that is really amazing.

"more drilling will help". Isn't that theory straight from the McCain/Palin campaign? Face it, Oil companies are not beholden to the U.S.. Oil goes to the highest bidder, no matter where it comes from (example: Alaskan oil to Japan) and until we get off it and make use of alternatives like the plentiful Natural Gas we have, we're at their mercy!

"Obama can do nothing, except lie and/or blame Bush." And pass a healthcare reform that was first conceived 80 some-odd years ago that nobody else managed to do! :)

Support the NAT GAS ACT!

What handed off at the same time as he managed to get Congress to pass the CFPAct? for 3 years now, the Republicans have refused to approve a head for it, basically as they have refused to substantiate a head for the ATF for 6 years! you may not ***** about issues no longer being enforced once you refuse to examine the mechanism to do it. basically raising the margin criteria on futures will be adequate to close a minimum of one/2 of it down. that's at the moment at 3%. improve it to 20-5%. And including a 5 cent transaction cost would supply up the microtrading. it would stabilize no longer in user-friendly terms the marketplace although the business device. imagine the authorities is going to flow after the great moneyed people?

He will do something shortly. He said in his campaign that we'd never have to drill for oil if we inflated our tires and got tune-ups.

http://www.wnd.com/index.php?pageId=71044

So he'll be creating a new governmental agency soon: the Department of Properly Inflated Tires.

Oil prices are rising because the economy is getting better. Obama is trying to get us to use much less oil which will mitigate oil price increases in the long term. Cap and trade is one way he is doing this.

I'll bet it's a conspiracy to make Obama look bad. Maybe the Govt needs to nationalize the oil companies.

Truthfully, Obama and the Dems want high Oil Prices it makes their green crap look better. I think I better dust off my bicycle.

if obama fixed it, it would be 10 times higher?? it will come down itself like before after people stop using so much of it??

US Presidents don't control worldwide oil prices.

I said the same thing when gasoline hit $4 under Bush.