04.19.2012 22

Obama’s manipulation

Barack Obama delivering the State of the Union

Photo Credit: White House

By Rick Manning — In his latest attempt to seem relevant to the economy that is sinking his re-election chances, President Obama demanded that Congress give him $52 million to seek out and end oil market manipulation.

“None of these steps by themselves will bring gas prices down overnight,” Obama said. “But it will prevent market manipulation and make sure we’re looking out for American consumers.”

However, in looking at the quote, one has to wonder who is responsible for “manipulating” the oil market?

Dictionary.com defines the term manipulate as, “to manage or influence skillfully, especially in an unfair manner.” When someone buys the commodity at a high price and the market brings the price down, they lose money, sometimes lots of it.

When someone buys the commodity at a low price and the market takes the price up, they make money, sometimes lots of it.

And while sometimes so-called speculators can drive prices up, the President of the United States can have a much greater impact on these prices simply by the policies he embraces.

This definition makes one wonder if the markets were being manipulated or if they were responding rationally when Obama appointed an Energy Secretary who publicly argued to the Wall Street Journal for higher gas prices only months before his appointment?

The definition of manipulate makes one wonder what the President himself is doing as he continues to threaten to veto a highway funding bill that would mandate approval of the Keystone XL pipeline.  Is he manipulating the market by denying the Keystone XL pipeline that will allow the vast oil reserves in Alberta, Canada to reach the market, and increase the overall supply of oil?

The truth is the oil market is neutral.  Investors and consumers compete to purchase the commodity in the open market making individual judgments on how the supply, demand, inflation and other factors will impact the price in the future.

If there is anticipation of a potential war in the Middle East, then concerns about supply will drive prices up, as they should.

If, there are significant new sources of oil coming on line, and investors believe the supply is secure or even abundant, the prices come down.

While Obama has attempted and failed to impact the demand for oil by throwing billions of taxpayer dollars at various failed new age energy schemes, he has succeeded in cutting the anticipated supply of oil that is being produced on federal lands, even as those sources he doesn’t control are increasing production overall.

All this leads to the obvious question: would a government assigned to root out manipulation of the oil market which has led to politically untenable high gasoline prices investigate someone who:

  • Had a high ranking executive express a strong desire to have gasoline prices significantly higher; and
  • Engaged in policies that are designed to choke off the supply of domestically produced oil?

If so, then perhaps the first person perp-walked for manipulating the oil market should be the man who lives in the big White House on Pennsylvania Avenue in Washington, D.C..

Of course, that would require that this President engage in some self-examination of the wreckage created by his policies rather than constantly seeking someone else to blame.

Rick Manning is the Communications Director of Americans for Limited Government

  • websmith

    The pipeline is not going to make a difference. It’s a distraction that allows the governmwent to say it’s trying to do something. The government should not be involved in this.

  • lloydrevalee

    Out of all thats in this article, one thing stands out.  Obama  threaten to veto a highway funding bill .  We all know tha is just an excuse for the Congress to not do anything, for they can pass any law they want to without the Presidents’ signature.  If we pay too much for oil, its because Congress wants us to pay too much for oil.  If we do not use our own resources, rather than those of countries that gouge us, it is because Congress either wants it that way, or the just sit by and allow it, for they are too lazy or disinterested to do anything about it.  They have allowed the POTUS  to assume power that is not granted to him by our Constitution, and let him ban oik wekk drilling in the Gulf of Mexico, and to keep the Keystone project from going ahead.  Both of which would alleviate a lot of our problems with high priced gas.  It seems that those we have elected to run our government, protect we the people and our Constitution, have no idea of the problems the high price of gas is to our average workers.  Have the ever stopped to consider the hardships caused by these prices, when a person is working for minimum wages, or wages in the lower range.  Paying around forty dollars, maybe twice a week for some, just to be able to get to and from work, is a terrible burden to a man or woman with a family to support.  In the end, we will have to take the blame for putting such people in office, and allowing them to ruin our economy and our way of life.  It seems rather obvious that we have dangerous enemies to our government, actually working within our government, doing everything they can to destroy us.

  • lloydrevalee

    Anything that would increase our own production of oil, and increase the amount of oil we get from Canada or Mexico, is bound to be of some help. And I don’t know is the pipeline allows the government to say its doing something, for they aren’t doing anything at all, including acting on the pipeline.  All of these things that Obama stope, drilling in the gulf, the pipeline, etc., can be overridden by Congress.  But the do not seem to be the least bit interested in helping the people they were elected to help.  The are too busy taking care of other countries with our tax dollars, to have any time for their own people.

  • sooner4ever

    No, 0bama was paying back his buddy Warren Buffet because the oil will now be transported on Buffet’s trains, rather than economically through a pipeline. 

  • Jdcoma

    obama just doesn’t have the stones to be in the Oval Office, he’s a puppet and soros,buffet,the unions plus all the tree huggers and far lefties are the puppet masters.

  • Obama=Buffet=Berkshire Hathaway=Santa Fe railroad=Ben Nelson=oil rail tankers to Texas=pay off to Obama. this is very simple follow the money.

  • You can say that again

  • He make it sound like he is a big wheel LOL

  • Overbeagle

    another political ploy by both parties,,who by the way are in this socialist agenda against this country together…if u cant see this,,if u still hold on to ur old beliefs,,then they have done there job brainwashing u….obullcrap in an insult to our country,,has taken more freedoms from us than all other presidents combined..but bush’s patriot act set this up for him…its all there in black and white if the lazy people would get up and look…we are being hearded like cattle to the slaughter house and both parties are driving us there…

  • Rwcfurn


    Even Obama’s Other Mentor- -The EVIL GENUIS  –“SOL O”,,Did Not Really Understand BIG MONEY  LIKE “GEORGIE” DOES !! 

    And Let us NOT Forget that HIS “BIG BUDDY”  “THE BUFFET RULE BOY” Has a “BIG TRAIN” That can HAUL OIL FROM CANADA  !!



  • EdinNola

    Congress:  Give this imposter NOTHING, except a prison sentence.

  • My President is cool
    I am sure glad that our President flies somewhere every day he is not playing golf. He needs time off because he has been so busy he does not sleep.
    He stays up thinking of new ways to help we the peopple.He has done so much with so little he had to print 3 x as many dollars as when he took office. He had to spend or borrow more than he takes in so he could accomplish so much with only 5 Trillion dollars in 3.5 years. We don’t need to worry about that because our grandchildren can easily pay it off. That is really a gift to them because these dollars have stimulated job growth now and in the future He comes from
    a poor background and when he was little he loved to eat the family dog and
    on bad days he ate grasshopper. Some ppeople say he was not born in this
    country but he has posted his brth certificates online. He says he can’t
    help it his copy machine keeps screwing up and the last form had
    to be put together from 3 copies. I don’t understnad that.
    His energy policy is really amazing. We don’t need as much carbon based fuels so he blocked the Keystone pipeline to get safe clean energy from our friends in Canada. Its ok since we will have windmills and algae to fill our outdated vehicles. Since we don’t need as much oil, Canada has decided to sell it to China where their EPA is much more strict that ours. That is called going green. Don’t forget to inflate your tires since that will help with the gasoline which is too low in price.It has been proven that we are polluting the
    air so much, we are becoming hotter. The gas is poison is CO2. That is why we breath
    it out. Stupid plants breath it in. I don’t know why they want poison gas. Its becoming
    such a large amount that it makes up .03% of the atmosphere. He is thinking about chargeing
    people for the average number of times they breath out per year. I say it would
    be better off to charge cars, trucks, and power plants since they put out the most.
    He heard that the Mexican drug cartel was running short on guns and ammo so he had the ATF send them some guns free of charge. Mexico has a stupid gun ban and crime including murder is much lower than here. There have only 50,000 murders in that last few years near the border. They keep leaving the guns at the scene of killings so we can have them back. . Drug prices in the US should drop soon since its much easier to transport drugs with guns. I could go on but I know hehas our best interest at heart and always speaks the truth without any notes. Thus he is reputed to be the smartest man to ever inhabit the White House and I believe it. I am sure happy he is protected by the men of the secret service which has the highest standards of conduct and morals. He took in so much
    money on April 15th he gave a reward to the GSA agency that watchs all Government
    spending to keep it as low as possible. They consider the money
    belongs to We the People and they must be frugal. The GSA saved us so much money he gave
    them extra money for a party in Vegas which cost over $800,000. He also gave the
    defense guy Panetta free trips to fly home since has has saved or created
    many of our lives.

  • guest

    He IS a Blunder.

  • Jmohm1

    He is, but the old saying is that “wheels run around in circles, and dogs P-ss on them”

  • Hold_Politicians_Accountable

    All of our politicians need to be held accountable including candidates. We can start by holding Congress responsible for not standing up for american citizens that they are suppose to serve. Send this to everybody on your mailing list. Recommend it on Facebook, Tweet it. Ask everybody you can to do the same. We need all the signatures we can get.
    What we need is http://www.petition2congress.com/6195/congressional-reform-act-to-fix-congress/

  • Don

    The dirty SOB Barrack Obama has been doing nothing but do his best to manipulate any and all parts of the Government and he is doing his very best to drive this great country into Bankruptcy

  • Polymath

    Right on, EdinNola!  As an impostor he is not legally (constitutionally) subject to impeachment which would confer legitimate status on him even though he might lose.  All his nasty works and appointments would stand!  Horrors!  However, if on the other hand, he is convicted of espionage all his works, including the appointment of the two socialists to the Supreme Court would be null and void.  This would also negate all of his executive orders.  Think of the time saved and herculean effort saved from having to piecemeal unwind the messes he has made.  One does not impeach a spy; one runs him through the judicial process and hangs him, if found guilty in war time.

  • Dualfours77

    jdcoma just say hes a piece of shit that belongs in the out house

  • FlaJim

    More distraction from the biggest failure ever to occupy/usurp the office of the presidency.  He’s got no record to run on and all he’s done for over 3 years is try to blame someone else for his purposeful program to bring America to its knees.  His is not the sin of ignorance but that of willful destruction.

    Anyone with a high school education knows that speculators stabilize markets; they don’t disrupt them.  That would be contrary to their interests.  Compare spot market prices to those found in commodities futures markets if you care to get a full understanding of this.

  • Hold_Politicians_Accountable

    All of our politicians need to be held accountable including candidates. We can start by holding Congress responsible for not standing up for american citizens that they are suppose to serve. Send this to everybody on your mailing list. Recommend it on Facebook, Tweet it. Ask everybody you can to do the same. We need all the signatures we can get.
    What we need is http://www.petition2congress.com/6195/congressional-reform-act-to-fix-congress/

    We the People Demand a Full Scale Investigation into the Eligibility Requirements of President Obama to be President and to run again for a second term.
    Uphold Our Constitution. http://www.petition2congress.com/6251/we-people-demand-full-scale-investigation-eligability-requirement/

  • Vjiva

    The HOUSE has passed bill after bill, including the Transportation with the caveat that the Keystone pipeline be built. The line would send oil to the refineries in the gulf much faster than it goes currently, which is by truck! We need local oil and from our allies. It provides jobs for refinery workers, and for the local businesses that improves, with the influx of more revenue. And it helps Canada! Tell YOUR Senators to pass this bill, NOW. Stop their stonewalling for some perceived benefit to the Democrats!

Back to top

Copyright © 2008-2016 Americans for Limited Government