Today the President asked Congress to create a whole new regulatory structure to protect us from those evil oil speculators.

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He called on lawmakers to boost the surveillance and enforcement staffing budget for the Commodity Futures Trading Commission (CFTC) by at least six times the current levels and to give the agency a technology upgrade. The two steps would have a combined price tag of about $52 million, according to a White House estimate.

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Under fire over high gas prices, Obama calls for tighter curbs on oil market manipulation | The Ticket - Yahoo! News
Yeah that's the ticket . Consumers are being hit across the board with higher prices . Some related to the energy market ;many related to the Fed's endless attempt to devalue the currency. One thing for sure... expanding the bureacracy that monitors this, with more consumer's money, will do nothing to affect the prices.
He is hard wired to think "more government power ..... more government power .... I need more power."....

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Originally Posted by tomder55

He is hard wired to think "more government power ..... more government power .... I need more power."....

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Hey, it worked for the evil "too big to fail" financial institutions he promised to get under control. Dodd-Frank gave us - wait for it... even bigger banks.

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Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the nation’s credit markets seized up and required unprecedented bailouts by the government.

Five banks -- JPMorgan Chase & Co. (JPM), Bank of America Corp. (BAC), Citigroup Inc. Wells Fargo & Co. (WFC), and Goldman Sachs Group Inc. -- held $8.5 trillion in assets at the end of 2011, equal to 56 percent of the U.S. economy, according to central bankers at the Federal Reserve.

Five years earlier, before the financial crisis, the largest banks’ assets amounted to 43 percent of U.S. output.

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Four dollar gas, bigger banks - but hey, at least we get "free" contraceptives.

Good thing because Romney says he will screw the poor and middle class, just read his tax proposal. That's how the market works and its simple, supply cannot meet demand if you buy cheap and wait for the price to goes up. It always goes up in the summer because they figure demand will go up. Holller about a war with Iran, and it goes up. Let Opec say it will increase production, it goes down, it's a risk, a calculated one, and when the price is higher American producers make money, off the world market.

Don't go looking to make money off a few barrels, when Healthcliff is buying them by the millions, and don't get greedy, because the other greedy b@st@rds get together and screw you. Its like a poker game, the big money can just raise you a buck until you are all in, and make you put up, or shut up! And you better not be bluffing.

That's all the market is, a crap shoot. A trillion dollar crap shoot.

So you agree that his bigger more muscular regulatory agency is either a futile effort or just so much campaign season bluster .Obama has proven time and time again that when it comes to business or the economy he is a light weight egg head with a very shallow understanding of what it takes to govern.

No Tom I don't agree as what we have is republican obstructionism standing in the way of allowing this president doing his job effectively for the purpose of their own. They have put interests, and agenda before the country, and its people. This is but another example of whose side they are on, and its not ours. Sad that you will suffer as we will by these obstructionist tactics.

But you do Grover, and Karl proud, making them think Mitt will screw us out of more loot just like your buddy George did. The president hasn't stopped working, nor has the right ever stopped working against him. So go ahead keep praying to the lesser god of MITT, and see what he does to you unrich right wingers, in pursuit of being King of the new OLIGARCHY.

Republican obstructionism ? It isn't the Republicans that won't grant new drilling leases . It's not Republicans approving pipelines to no where. With the reckless growth of government under this President ,the only responsible course for Republicans to take is to obstruct his agenda.

It's not Republicans blocking a pipeline from Canada resulting in the U.S. about to have to pay market prices for Canadian oil.

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Obama's neglect of our nearest neighbors and biggest trade partners has created deteriorating relations, a sign of a president who's out of touch with reality. Problems are emerging that aren't being reported.

Fortunately, the Canadian and Mexican press told the real story. Canada's National Post quoted former Canadian diplomat Colin Robertson as saying the North American Free Trade Agreement and the three-nation alliance it has fostered since 1994 have been so neglected they're "on life support."

Energy has become a searing rift between the U.S. and Canada and threatens to leave the U.S. without its top energy supplier.

The Winnipeg Free Press reported that Canadian Prime Minister Stephen Harper warned Obama the U.S. will have to pay market prices for its Canadian oil after Obama's de facto veto of the Keystone XL pipeline. Canada is preparing to sell its oil to China.

Until now, NAFTA had shielded the U.S. from having to pay global prices for Canadian oil. That's about to change.

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Isn't that just splendid?

Are you guys crazy? The pipeline to Texas will cost many farmers their land, benefit the Canadians and the oil companies in making refining and shipping easier to global markets, with consequences to the market. Oil production in the US has never been higher, and the subsidized oil companies have yet to explore their many gulf rigs.

Yet you are buying this pablum, from the SUBSIDIZED oil company seeking to enrich themselves and even Canada has little leverage for easy quick bucks. Sell to China, who cannot refine the oil they produce, and neither can Canada at the rates they need to make profit.

Nebraska legislators move to block Keystone XL pipeline route | Environment | guardian.co.uk

Proposal for 2nd pipeline sparks opposition ? USATODAY.com

Keystone XL Primer: Why Nebraska Is Ground Zero in the Pipeline Fight | InsideClimate News

As usual you righties keep repeating the corporate line without looking for the facts. Haven't learned to think, research, before you act or speak, as usual. You rather worry about what big money wants that isn't in your own interest, or those it affects. Well the righties in Nebraska disagree. So talk to them.

I didn't repeat any "corporate line," I posted the Canadian PM's warning to Obama.

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Canadian Prime Minister Stephen Harper warned Obama the U.S. will have to pay market prices for its Canadian oil after Obama's de facto veto of the Keystone XL pipeline.

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So Canada is a corporation now?

P.S. He's "leading from behind" again after Argentina nationalized the Spanish oil company Repsol. No big deal, eh?

A"subsidy" is a direct payment from the government to a business enterprise.There are NO subsidies to the oil companies.. period. They have the same tax deductions as every other business . That is in direct contrast to the so called green energy industry that gets subsidized to the tune of $12.5 billion a year.

Now if you want to say we should eliminate those deductions in return for a simplified tax system ,then I'm on board. But this lie that Oil companies are subsidized is bunk.

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Originally Posted by tomder55

There are NO subsidies to the oil companies ..period.

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U.S. President Barack Obama's call to end subsidies to American oil companies has been soundly rebuffed by American lawmakers.

Senate Republicans reject Obama call to end 'big oil' tax breaks - CNN.com

History of U.S. Oil Subsidies Go Back Nearly a Century - Yahoo! News

Five Reasons to Repeal Subsidies for Oil Companies | The White House

When they can conventiently interchange any provision of the tax code with subsidies at their convenience then of course you can make the claim that the industry is subsidized. But that doesn't make it a fact. Show me the direct payment of tax payer dollars to the industry or other things like loan guarantees . Equipment depreciations, development credits, facilities expansion credits are all part of the tax code that ALL businesses can benefit from.

Dude, even the White House web site says it LOL!

Even one of Tal's links call them what they are, tax breaks.

Senate Republicans reject Obama call to end 'big oil' tax breaks

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Originally Posted by NeedKarma

Dude, even the White House web site says it LOL!

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And that means what exactly ? The President uses the word incorrectly for political purposes. He knows he can't exclude the oil companies from tax provisions every other industry in the nation is subject to.

Your semantics fight is interesting so lets call the tax breaks/subsidies what they are, corporate welfare for rich industries. Those are okay as long as those lazy poor people, and middle class parasites get nothing.

More right wing balderdash, to justify the half truths and lies you spout, and have the GAUL to let a Canadian tell you what's good for you. I see the problem now, you guys have gotten dependent on rich people telling you what's good for you and can only blame the left, and a democratic president on your lack of knowledge and the false hood that you conservatives are the only ones to know what's good for someone else.

You barely know what's good for you while the Oligarch you protect makes you as poor as they do us. Let the Chinese buy the oil, see how that works out for them, and keep letting Grover, and Karl, inform you of there non facts. The Governor and the people of Nebraska ain't giving up their right so Big Oil can make more loot!

Address those things and let me know why you ignore it as you rant about the right of the few, over the MANY, including YOU!

Definition of 'Subsidy'
A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is usually given to remove some type of burden and is often considered to be in the interest of the public.

Read more: Subsidy Definition | Investopedia

It is neither unless you broaden the term subsidy to include every standard deduction in the tax code... which would not surprise me in the least if that is what the left thinks since they believe a tax break is giving money away instead of what it really is... taking less of someone else's money.

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Originally Posted by tomder55

it is neither

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It amazing how everyone is wrong except for you.

I don't call a deduction that every industry gets a subsidy . You do . I get standard deductions;the same ones most tax payers qualify for who file for them . I don't consider it a subsidy from the government .But I can see how people who believe they should be inherently dependent on the state would think that way.