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.........................
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