Wednesday, April 20, 2011

Obama blames speculators for high gasoline prices

AFP reports:
US President Barack Obama blamed oil "speculators" on Tuesday for soaring gasoline prices that risk weighing down the US recovery and could dampen his 2012 election hopes.

"It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply. There's enough oil out there for world demand," Obama said at a campaign-style event not far from Washington.
Central planner Barack Obama "knows" more than market forces. Here's a link to Hayek's famous paper "The Use of Knowledge in Society". We assure you Obama hasn't read this.