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President Obama Doesn't Just Say We Are Producing More Oil, We Are Producing More Oil | Beat the Press

The NYT did some heavy-duty he said/she said reporting on the issue of gas prices and energy production. It devoted an article to President Obama's efforts to counter Republican complaints about high gas prices.

The article told readers:

"The president said that the United States is producing more oil now than at any time during the last eight years, with a record number of rigs pumping."

President Obama did not just say this, it also happens to be true. There are reasons that people may not be happy that the United States is producing more oil (anyone hear of global warming?), but it happens to be true.

The article then went on to tell readers that:

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link submitted by Frank Talque

SO WHY ARE GAS PRICES Mark Greenblatt's article below

How Wall Street Is Raising the Price of Gas - ABC News

What may surprise you, however, is what one of Wall Street’s top regulators has to say about who else you’re paying: speculators on Wall Street.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission,  the federal agency that regulates commodity futures and option trading in the United States, said it’s time to look at home — in addition to overseas — when searching for the reasons why gas prices are on the rise.

“I’m fired up,” Chilton said. “I’m concerned and we have to look after consumers.”

According to Chilton, much of the problem is actually “made in the USA,” created by Wall Street traders who gamble on oil prices.

“There aren’t markets without speculation,” Chilton told ABC News. “It’s the excessive speculation we are concerned about.”

Chilton, who has served as commissioner since 2007, said far too few players control far

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link submitted by Jack Heath