Obama says there’s no magic bullet to bring down oil prices

Tuesday, April 26th 2011 - 21:26 UTC

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President Barack Obama has told fellow citizens there is no “magic bullet” to bring down high petrol prices and said he wants to end what he called US$4 billion in taxpayer subsidies to oil and gas companies. Read full article

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Fido Dido
“Obama says there’s no magic bullet to bring down oil prices”

Correct, he knows that the dollar is going to Hell. The lower the US dollar, the higher the prices of commodities that are in high demand and priced in US dollars = inflation (basic economics).
Apr 26th, 2011 - 09:38 pm - Link - Report abuse 0
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Forgetit86
The US could start by withdrawing QE and raising interest rates. That way, the speculative capital that has been now for months playing with commodities prices will return to US assets and strengthen the dollar again.
Apr 26th, 2011 - 09:49 pm - Link - Report abuse 0
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Fido Dido
The US could start by withdrawing QE and raising interest rates.

QE 2 will end in June, QE 3 is in talk. Stop QE and raising interest rates? Bernanke already gave a hint, raising rates is not going to happen, it will stay close to ZERO. He needs to keep the Banksters feeding who know it's almost end game for them.
Apr 26th, 2011 - 10:28 pm - Link - Report abuse 0
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