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Since April President Obama Cut Oil Prices 21%, Boosted GDP $78.4 Billion

Barack Obama

In April, I predicted that President Obama’s $52 million plan to increase the margin requirements and otherwise tighten the screws on oil speculators — who borrow huge sums to bet on the direction of oil without taking delivery — would cut oil prices by 10%. He’s beaten that prediction and the lowered prices of gasoline has added $78.4 billion to its consumers’ spending power.

 

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