Gas prices are still on the rise and for families already on a tight budget, the rise in fuel costs is stressful. While we aren’t at 2008's record highs, we are slowly edging in on this mark with some areas of the country already paying more than $4 per gallon. This sharp rise in gas prices has some people concerned about price gouging and other fraudulent means of price inflation. This concern about fraud and manipulation in the oil market was on President Obama’s mind during his Easter weekend presidential address.
“On Thursday, my attorney general also launched a task force with just one job: rooting out cases of fraud or manipulation in the oil markets that might affect gas prices, including any illegal activity by traders and speculators. We’re going to make sure that no one is taking advantage of the American people for their own short-term gain.” Source: The White House
During his speech, the president also discussed ending $4 billion in taxpayer subsidies to the oil and gas industry and the need for investments in clean energy technologies.
Photo: David Reber’s Hammer Photography/Flickr