Nancy Pelosi has just released a statement regarding rising gas prices:
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on the rising gas prices across the country:
“Independent reports confirm that speculators are driving up the cost of oil, hurting consumers and potentially damaging the economic recovery. Wall Street profiteering, not oil shortages, is the cause of the price spike. In fact, U.S. oil production is at its highest level since 2003, and millions of acres have been cleared for additional development.
“We need to take strong action to protect consumers from this speculation. Unfortunately, Republicans have chosen to protect the interests of Wall Street speculators and oil companies instead of the interests of working Americans by obstructing the agencies with the responsibility of enforcing consumer protection laws. They have also repeatedly opposed our efforts to end billions of dollars in outdated taxpayer subsidies for oil companies enjoying record profits.
“We support efforts by the Obama Administration to expand domestic energy resources, including natural gas and renewable sources like wind and solar that create jobs in America and will end our dangerous dependence on foreign energy supplies. This can be achieved because today, the United States currently has more oil and gas rigs at work than the rest of the world combined, and imports of foreign oil have decreased.
“We call on the Republican leadership to act on behalf of American consumers and join our efforts to crack down on speculators who care more about their profits than the price at the pump even if these spikes harm the American consumer and our economy.”
Former Speaker of the House–and current Minority Leader–Nancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.
The revelation appears in Throw Them All Out, the new book by investigative journalist and Breitbart editor Peter Schweizer, which was the focus of 60 Minutes on CBS this evening, and which is featured in this week’s issue of Newsweek.
In Pelosi’s world, profiting from speculating on commodities is evil and is anti-American. However, front-running a Visa IPO and bringing in a 203% return is completely fine.
The Mayor isn’t even sure why Pelosi is against high gas prices. Steven Chu, Barack Obama’s Energy secretary, is all for it: “Somehow,” Chu said, “we have to figure out how to boost the price of gasoline to the levels in Europe.”
Relax, gas is only $8 -$10 in Europe.
Heck, if Pelosi is against high gas prices, she’s even at odds with her master, Barack Obama:
When asked whether he thought $4-a-gallon gas prices were good for the American economy, said, “I think that I would have preferred a gradual adjustment.”
Keystone, the moratorium in the Gulf, green energy policies, sabre rattling with Iran, Iran cutting oil supplies to France and England, the printing of trillions and trillions and trillions of fiat cash – yup, high gas prices must be the result of speculators.
Nancy Pelosi – the smartest liberal woman ever. And The Mayor is quite serious about that.