Obama Launches an Investigation Into Supply and Demand

President Obama is announcing that his administration will investigate fraud "in the oil markets," potentially caused by traders, that could drive up gas prices. Here's what he planned to say at a "town hall" in Reno, Nev., on Thursday, according to the White House:

"Last month, I asked my attorney general to look into any cases of price gouging, so we can make sure no one's being taken advantage of at the pump. Today, we're going a step further. The attorney general's putting together a team whose job it will be to root out any cases of fraud or manipulation in the oil markets that might affect gas prices - and that includes the role of traders and speculators. We are going to make sure that no one is taking advantage of the American people for their own short-term gain."

Here's the full text of Obama's prepared remarks, provided by the White House:

"Hello, Reno! It is great to be back in the state of Nevada. And it is a pleasure to be here at Electra Therm. I'm told the contraption behind me is known as the Green Machine, and it produces renewable energy from low-temperature heat waste. I have no idea how it works, but I'm glad it does. And I want to congratulate Electra Therm for being a fine example of a clean energy company that's been growing by leaps and bounds over the last few years.

Read the rest at Politico.com