Obama Goes After Oil Traders

On Tuesday, President Obama outlined a package of efforts his administration is pursuing to ensure that energy traders are not responsible for “market manipulation” that drives up the cost of oil and consequently gasoline. President Obama called on Congress to “pass a package of measures to crack down on illegal activity and hold accountable those who manipulate the market for private gain at the expense of millions of working families.” Specifically, Obama suggested that Congress should provide funding to better police energy trading, and policing of those investors usually go for stock apps when trading online. He suggested that Congress… [more]