Obama seeks new oil market crackdown

REUTERS:  U.S. President Barack Obama, whose political fortunes are threatened by rising gasoline prices, proposed new measures on Tuesday to reduce oil market manipulation that are unlikely to get support from a divided Congress.

Obama called on lawmakers to raise civil and criminal penalties on individuals and companies involved in manipulative practices…

“We should strengthen protections for American consumers, not gut them,” he said…  (more)

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