Sen. Bernie Sanders called out Romney, Santorum, and Gingrich for lying and covering up the real reason why gas prices are increasing.
Here is the video from MSNBC:
Sen. Sanders discussed oil speculation, “There is now more supply in America available in America today than there was three years ago when the price of gas was a buck ninety a gallon. There’s less demand now than there was at any time since 1997, so we’re not looking at a supply and demand problem. What we also know is that over eight percent repeat over eighty percent of the oil futures market is not controlled by people who actually use the oil, airlines, etc. , but by Wall Street speculators like Goldman Sachs/Morgan Stanley.”
After estimating that legislation ending excessive oil speculation would drop the price of gas by at least fifty six cents a gallon, Sanders was asked by Schultz if the Republican presidential candidates were lying about the Obama’s policies driving up the price of gas. The Vermont senator answered, “Yeah, they are. The truth is, as the president indicated, we are doing a lot of oil drilling right now. But I think at the root of the problem is not the supply issue, I think the root of the problem is that our friends on Wall Street who caused this recession through their greed are at it again, and by manipulating oil futures market they’re driving up prices. What we are trying to do, Ed, now is demand that Commodity Futures Trading Commission, an arcane agency which regulates the oil futures market use emergency power to end excessive speculation.”
We’ve been down this road before as a country many times. Sen. Sanders was one hundred percent correct. The cause of the problem isn’t supply and demand. It is the excessive oil speculation driving up prices. If President Obama wants to put an end to this, he can do so at any time by uttering this one sentence. Today, we are launching a federal investigation into excessive speculation in the oil futures market. That one sentence would put the brakes on this entire scam.
Gingrich, Romney, and Santorum are lying to the American people about the cause of rising gas prices. If the Sanders legislation would pass and be signed by the president, the price of gasoline would come down, but as usual, Republicans who are looking to score cheap political points ahead of the November election oppose any more that would lower the price of gas and help the American people in any way.
I wish more Democrats had the courage to stand up and plainly say what the Independent Bernie Sanders did. The Republicans are lying to the American people. Their presidential candidates are lying. Their members of Congress are lying, and their propaganda machine is putting out a stream of endless lies all based on the hope of winning an election in November.
Republicans are lying, and it is up to all Americans who care about facts to join with Sen. Sanders and President Obama in calling them out on it.