Speculators and Gas Prices

Last week President Obama gave a speech in which he blamed “speculators” for the high gas prices that are causing so much pain for the middle class. The purpose of the speech was to divert voters’ attention from the Obama policies that have restricted our access to the fuel we need.

In making oil market speculators the villain, the President was either showing profound ignorance of both economics and history, or he was counting on the American people to be ignorant about those subjects.

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