Obama Push on Oil Markets Seen as More Political Than Practical

Under continued attack from Republicans for high oil and gasoline prices, President Obama unveiled on Tuesday a slate of measures to crack down on financial speculation in energy-futures trading, which Democrats say helps drive up prices. But while a Rose Garden announcement gave the president a platform to be seen calling for action on fuel prices, it’s not clear whether financial speculation is even a major contributor to oil and gasoline prices—or whether the administration’s proposals could have any real impact on the price at the pump.
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Gas Prices (CNN, File Photo)

Posted: Tue, 04/17/2012 - 11:27am