Obama reeks of sheer incompetence.
Via Washington Examiner:
Crude oil prices have risen over a dollar today, despite President Obama’s promise to “crackdown” on Wall Street “speculators” that he believes are driving up the price of oil.
Crude oil opened at $102.66 per barrel. It cost $104.04 per barrel at 8:58 am (one minute after the White House Fact Sheet on “cracking down on manipulation in oil markets” hit my inbox). By 9:32 am, the price had risen to $104.94 per barrel. The price has been as as high as $105.07 today, according to Yahoo Finance and Reuters.
Brendan Buck, Press Secretary for Speaker John Boehner, R-Ohio, jumped on the correlation. “Price of oil tumbles on news of Obama crackdown on manipulation,” he tweeted sarcastically, adding “Actually, the reverse [of] that.”