White House Starts Attacks On Oil Companies

The White House has joined congressional Democrats in targeting oil companies with criticism for nearly $4 per gallon gas.

President Obama lashed out at oil companies — and the tax breaks they get from the government — for a second consecutive day on Thursday and again in Saturday's address.

“Four billion dollars of your money are going to these companies at a time when they’re making record profits and you’re paying near record prices at the pump,” the president said at a Nevada town hall. “It has to stop.”

Obama also announced a Justice Department task force that will probe whether speculators and traders are to blame for the high prices. A spokesman for House Speaker John Boehner (R-Ohio) on Friday criticized the effort as an attempt to deflect attention from White House and Democratic opposition to increased drilling in the United States.

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