On the 17th U.S. President Barack Obama said in a speech at the White House, more administrative means will be taken to strengthen the supervision on the oil market, and to ask Congress to develop appropriate laws to crack down on the oil market price manipulation, fraud and other violations.

Obama said Congress should be an immediate increase in the fiscal year 2012 budget based on $ 52 million for a six fold increase in the size of the regulatory and law enforcement personnel of the U.S. Commodity Futures Trading Commission, at the same time upgrade the regulatory and law enforcement technology and equipment required. In addition, the Commodity Futures Trading Commission in fiscal year 2013 budget also increased to $ 308 million.

Obama's reference to the words of the U.S. Commodity Futures Trading Commission Chairman Gary root Chrysler, if the number of teams doubled tripled while the number of referees did not increase, the competition scene will become a mess, which is the situation currently faced by the energy market .

Obama called on Congress for the energy market manipulation and other unlawful acts against civil and criminal penalties increase to 10 times the upper limit of fines increased from $ 1,000,000 to $ 10,000,000, while the Congress should give the agencies more powers for regulating the energy market, including requirements of the oil futures market traders to increase the margin, in order to reduce price volatility and the negative impact of excessive speculation.

Thanks to the shale oil mining activities in recent years the rapid increase in U.S. domestic oil production has steadily increased, while energy efficiency and slow economic recovery and other factors caused a gradual decline in domestic demand, but because of the situation in the Middle East instability, rising global oil prices remain the average U.S. domestic gasoline prices at $ 3.9 per gallon (about 6.5 yuan per liter) high.

Obama said that despite the strengthening on the oil market supervision and crack down on price manipulation does not make oil prices drop in the short term, but to help transform the U.S. energy market confidence.

Currently, the U.S. Department of Justice has dedicated oil and gas prices Fraud Working Group. After Enron, the U.S. Commodity Futures Trading Commission electronics and overseas trading platform has been more stringent regulation. In addition, according to Dodd - Frank Wall Street Reform and Consumer Protection Act, the U.S. Commodity Futures Trading Commission to limit the trading position and ensure that a single dealer can not manipulate the market.

    China steel net point of view: to make a U-turn at the international oil prices down, and trouble is expected in the second quarter in international oil prices are easy to fall hard up, due to consumption of this case, Obama said, it will take more administrative means to strengthen is not to say that this U-turn forced the high oil prices on the oil market supervision, and ultimately, to his credit? However, the attitude of the Obama administration should be more of a commitment to the American people, which is conducive to its election.