This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Is Obama's Oil Manipulation Crusade for Real?

Stock quotes in this article: BP, WNR, CVI, CVX, XOM

Commodities Markets Oversight Coalition spokesman Collura remains cautious on the outcome of the tough talk from the Obama administration. "It will be interesting to see whether or not the 'task force' really develops legs in order to have an effect on the bullish speculative activity in commodity prices. I believe that the White House assembled the task force not only to send a message to the public that it acknowledges the problem and is trying to do everything it can about it, but also a message to the market."

Collura added that the renewed focus of the White House and the formation of the task force will have ripple effects across the administration and in the Congress, and noted that this week the CFTC announced that it's moving to prohibit mutual funds from evading regulation and investment caps on commodities via offshore subsidiaries. "I think you'll see more of this sort of activity as fuel prices stay at or above $4/gallon," Collura said.

Indeed, it all raises the question, Is the Obama oil prices task force no more than lip service for the angry masses? Take our poll below, and see what TheStreet thinks....


Is the Obama oil prices task force a legitimate campaign, or just lip service for the angry masses?

Lip Service -- The Obama oil prices task force is just politics.
Legitimate Campagin -- Obama is serious, and illegal oil trading schemes are real.

-- Written by Eric Rosenbaum from New York.

RELATED STORIES:






>To contact the writer of this article, click here: Eric Rosenbaum.

4 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs