Obama’s Blame of Speculators, Forming of Gas Task Force Misguided

Mike Brownfield / April 22, 2011

Maybe President Obama should start investigating John F. Kennedy’s shooting in his spare time, because he’s not going to find a satisfying conspiracy in gas prices.

Better yet, he could pick up an economics textbook and turn to the chapter on Supply and Demand.

His finger-pointing at speculators and formation of a gas task force to investigate prices at the pump ignore the real cause of rising gas prices. Further, President Obama’s blame of speculators is a costly barrier to fixing bad government policy that restricts oil and gas exploration onshore and offshore here at home. (more…)