President Barack Obama said Thursday that the Justice Department will try to "root out" cases of fraud or manipulation in oil markets, even as Attorney General Eric Holder suggested a variety of legal reasons may be behind gasoline's surge to $4 a gallon.
"We are going to make sure that no one is taking advantage of the American people for their own short-term gain," Obama said at a town-hall style meeting at a renewable energy plant in Reno.
The national average price for a gallon of regular gasoline was $3.84 on Thursday, about 30 cents higher than a month ago and almost a dollar higher than a year ago.
Um, I wonder if Obama knows that part of the reason for the high gas prices is the war he helped start in Libya? I mean almost all of Libya's oil production is off of the market for an indeterminate period of time. So supply is disrupted and that makes prices rise. I mean this guy went to Harvard right? Maybe he fell asleep in his Econ 101 class or was out shooting hoops or something during that lecture.
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