Well Obama is going to have Eric Holder investigate the oil price manipulation.
Well I am sure Mr. Holder will no doubt take a look and find some evil manipualtors to blame for oil prices going up. They will no doubt be middle management in major brokerage houses or heads of Hedge Funds who didn't not pay enough tribute to criminal class know as the politicians.
If they really wanted to get to the bottom to the cost of oil and gas surging over the last several months all they have to do is head down the street to the Federal Reserve and also the Treasury. In 1976 oil was valued at $13.10 in US dollars. Gold at this date was an average of $124.84 US dollars.
That means that once of gold at that point would buy a little over 9 and half barrels of oil. Now we can fast forward today and a barrel of oil is $121.19.
The current price for gold is $1515.80
an ounce. So an ounce of gold today would by 12 and a half barrels of oil. So if we go by true money that is gold, oil is cheaper today than it was 35 years ago.
So what has changed that would cause the dollar value of oil to sky rocket. Well we have have printed trillions of dollars out of thin air which has lead to more money chasing after the same amount of goods. In this case oil and gasoline. So if President Obama and the Congress really wanted to get to the bottom of the problem that is sky rocketing gas and oil prices they would end the Federal Reserve and intermediately get back to a dollar back again by gold or silver. This is the only true way to stop this inflation that is crushing the middle class and literally killing the poor.