Media Goes Silent as Gas Prices Fall After Obama Crack Down On Oil Speculation

By: Jason Easley May 4, 2012

The media and the Republicans were happy to blame President Obama for the high price of gasoline in March, but they are giving Obama none of the credit for the drop in gas prices today.

It seems like only yesterday that the GOP and their corporate media lackeys were telling us that gas prices would ruin Obama, but they have gone silent as gas prices have fallen since Obama announced his administration’s crackdown on oil speculation.

As recently as last month, Mitt Romney was still blaming President Obama for the price of gas, “He gets full credit or blame for what’s happened to this economy and what’s happened to gasoline prices under his watch and what’s happened to our schools and what’s happened to our military forces — all these things are his responsibility while he’s president.”

Speaker of the House John Boehner went as far as to claim that gas prices could cost Obama the election, “But if the economy doesn’t get better, I don’t think he’ll win. If people don’t feel better about government-run health care, I don’t think he’ll win. And if gas prices are $5 or $6, he certainly isn’t going to win.”

The media was happy to give the Republicans a free forum and plenty of airtime to use to blame Obama for gas prices, but on April 17 Obama called for a crackdown on oil speculation, “We can’t afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher, only to flip the oil for a quick profit. We can’t afford the situation where some speculators can reap millions (of dollars in profits), while millions of American families get the short end of the stick. That’s not the way the market should work.”

Since Obama announced his crackdown on oil speculation, gas prices have fallen twelve cents a gallon. The media response to this news has been total silence.