President considers tapping oil reserves
The current crisis is not caused by a lack of oil,, it is simply a small bunch of speculators controlling 80% of the oil futures market. They run the prices up and down at will with their huge piles of money..They are making a killing and we are getting killed.
The President has two solutions at hand. Both easy choices..There is already on the books laws that empower the Commodity Exchange to put severe limits on futures , they can be forced to do this by Presidential order...Happens to be republican that was second in command that congress has blocked the appointment of the new chief.. There are job opening in Alaska , a transfer is easy to do..
Or the President controls the Plunge Protection Team and they have unlimited supplies of money they could plunge into the futures market and drive the prices the wrong way in a minute .. Busting all the hedge funds playing in the oil game..
Simple choices , but don't hold your breath..
Production of oil is at an all time high and consumption is at a 20 year low , prices should be below two buck'