Wednesday, April 11, 2012
Karl Rove Group That Absurdly Blames Obama For Rising Gas Prices Was Bankrolled By Top Oil Speculator
A conservative political advocacy group attacking Obama for supposedly raising gas prices received a “seven-figure check” from a leading Wall Street oil speculator.
While conservative organizations — and even Murdoch’s Wall Street Journal – agree that presidents have no control over gas prices, excessive oil speculation has been blamed by economists for 15% of the increase in the price of crude oil over the last decade.
Crossroads GPS, a political organization run by strategist Karl Rove, has spent $1.7 million on a new national ad campaign blaming President Obama for making gasoline cost “too much.” But the organization has in the past received substantial funding from Paul Singer, manager of a hedge fund responsible for some of the highest volume of oil trading in the country.........................