Oil, more oil, and Tax Day
Amid high oil prices US President Barack Obama demonized oil speculators, proposing more regulation to combat market manipulation. But how much is speculation really to blame for the rise in oil prices? Is the problem the defiling of the dollar and its declining purchasing power? How about regulators failing to regulate rules already on the books? We talk to commodities expert Dr. Stephen Leeb, author of “Red Alert”. While we're on oil, is the Argentine government's move to take control of its largest oil company YPF, despite political fallout, the latest example of the increasing tension between energy and the economy? As oil becomes scarcer and more expensive, while the global economy is on life support built on debt, we ask if economic growth will increasingly depend on energy control. And a record number of Americans are reportedly denouncing their citizenship or handing in their Green Cards. Many say it's for tax reasons. That's right, it's Tax Day in the US! We talk about the international backlash against the IRS.