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Shocker: GOP Rep. Paul Ryan says he also wants to cut ‘corporate welfare’

WASHINGTON (Reuters) – House Budget Committee Chairman Paul Ryan said on Thursday he supports cutting tax breaks for the oil industry as lawmakers search for ways to battle rising gasoline prices. In response to a question at a town hall meeting in Waterford, Wisconsin, the Republican congressman said he agreed…

Obama blames speculators for high gasoline prices

ANNANDALE, Virginia — US President Barack Obama blamed oil “speculators” on Tuesday for soaring gasoline prices that risk weighing down the US recovery and could dampen his 2012 election hopes. “It is true that a lot of what’s driving oil prices up right now is not the lack of supply.…

World can handle choked oil supplies: Geithner

WASHINGTON – The world can pump enough extra oil and has enough stashed in reserve to limit price shocks from sustained turmoil in the Middle East, Treasury Secretary Timothy Geithner said Thursday. “There is considerable spare oil production capacity globally, and we and other major economies possess substantial strategic reserves…

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