Ignoring that high prices have been directly affected by his own policies, the drilling moratorium in the Gulf and off the coasts, the blocking of the Keystone XL pipeline, blocking all new drilling permits on federal land, EPA regulations which are devastating the coal industry, King Barry is now putting up roadblocks to those who invest in the oil markets.
Common sense says that this will hamper investment and create even less production, resulting in higher prices at the pump, furthering his and Stephen Chu's goal of European-like gas prices at $10 a gallon. At this, Obama will demonize the Big Oil even more, calling for greater oversight of the industry, with his ultimate goal being a Hugo Chavez-like takeover of the oil industry.
For Obama, if it looks like Hugo Chavez, smells like Hugo Chavez, and governs like Hugo Chavez, it must be a Marxist.
Obama pitchs $52M plan to regulate oil marketsPublished April 17, 2012 Associated Press
WASHINGTON – 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.
"Congress should do all of this right away," the president said Tuesday during a White House speech in the Rose Garden.