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Prediction: the Righties will rail against these measures, even though they screamed for Obama to 'do something' about gas prices....
The Obama administration is monitoring gasoline and diesel fuel prices in 360 U.S. cities to guard against fraud or price manipulation, according to a White House report released today.
The report, which also says the administration has made progress weaning the U.S. from foreign oil imports, outlined the extent of price monitoring that President Barack Obama previously announced. At a news conference Obama said he asked Attorney General Eric Holder to reconstitute a special task force to ensure the government is watching for “potential speculation in the oil markets.”
“Today’s high gas prices are a painful reminder that there’s much more work to do free ourselves from our dependence on foreign oil and take control of our energy future,” Obama said in a statement released with the report.
The Commodity Futures Trading Commission, which regulates futures markets, has also cracked down on financial trades that evaded scrutiny in unregulated or overseas markets.
In the one-year progress report released today, called “The Blueprint for a Secure Energy Future,” six federal agencies conclude that the U.S. is on track to achieve an Obama goal of reducing oil imports by a third in a little over a decade.
This is due partly to increased U.S. oil and gas production, more efficient cars and trucks, and efficient refining operations. The U.S. imported 45 percent of its oil needs last year, down from 57 percent in 2008.
http://www.businessweek.com/news/20...soline-diesel-fraud-in-360-u-dot-s-dot-cities
The Obama administration is monitoring gasoline and diesel fuel prices in 360 U.S. cities to guard against fraud or price manipulation, according to a White House report released today.
The report, which also says the administration has made progress weaning the U.S. from foreign oil imports, outlined the extent of price monitoring that President Barack Obama previously announced. At a news conference Obama said he asked Attorney General Eric Holder to reconstitute a special task force to ensure the government is watching for “potential speculation in the oil markets.”
“Today’s high gas prices are a painful reminder that there’s much more work to do free ourselves from our dependence on foreign oil and take control of our energy future,” Obama said in a statement released with the report.
The Commodity Futures Trading Commission, which regulates futures markets, has also cracked down on financial trades that evaded scrutiny in unregulated or overseas markets.
In the one-year progress report released today, called “The Blueprint for a Secure Energy Future,” six federal agencies conclude that the U.S. is on track to achieve an Obama goal of reducing oil imports by a third in a little over a decade.
This is due partly to increased U.S. oil and gas production, more efficient cars and trucks, and efficient refining operations. The U.S. imported 45 percent of its oil needs last year, down from 57 percent in 2008.
http://www.businessweek.com/news/20...soline-diesel-fraud-in-360-u-dot-s-dot-cities