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IPFS News Link • Obama Administration

Obama's 'Oil Speculation Task Force' Missing in Action

• Common Dreams staff
 In April of 2011, with an attempt to address soaring gas prices and public concern, President Obama announced the creation of a special task force that would, according to the Justice Dept., "focus specifically on fraud in the energy markets." The Oil and Gas Price Fraud Working Group was formed and promises were made.
According to the DOJ's official announcement, the Task Force would "wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes and other laws prohibiting financial fraud" and be empowered with an "array of criminal and civil enforcement resources."

Nearly a year later, however, almost nothing has been done. Once again, US consumers face runaway prices at the gas pump and both oil speculation and alleged price manipulation continue unabated.