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Investigation of oil traders. you know, those oil speculators. specifically whether fraud and price gouging are pushing up the costs of nearly everything we buy. here's a reality check that will probably make you cringe. today the average price of unleaded gas is $3.85 a gallon. >> the attorney general's putting together a team whose job it is 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're going to make sure that nobody's taking advantage of american consumers for their own short-term ...

Actually, he calls it blast. attorneys general in 17 states call it a binge in a can. they are trying to cut off this powerful new snoop dogg approved drink. gas prices are rising. are americans being take foreign a ride? president obama thinks so. he is ordering an investigation of oil traders and whether fraud and price gouging are pushing up the costs of nearly everything we buy. here is a reality check that will make you cringe. today, the average price of unleaded is $3.85. that's nearly $1 a gallon more than what we were paying a year ago. >> the attorney general is putting together a ...

The president heckled by a woman in california. the singing pro it tester wore a shirt supporting wikileaks suspect bradley manning. the president let the heckler finish before she was thrown out. ♪ ♪ 23 hours a day [ inaudible ]. >> sounded like way more than one woman singing, didn't it? >> people joining in on that. president obama says he feels your pain at the pump, by the way. he's announced a new task force which he claims will root out any cases of fraud and manipulation in the oil and gas market. the national average for a gallon of gas now $3.85. we're talking about privacy c...

In this country right now. >> many people think speculators are to blame because we have a glut of oil, there's decreased demand for gas, yet the prices are still high and getting higher. >> sure. the price we pay at the pump has to do with the price of oil which is traded globally, right? it's not just how much oil we have domestically in this country. it's how much saudi arabia has. opec has actually cut back a little bit on how much they're producing. it's how much russia is producing. it's a global number. so oil prices, you look at them. about $112 a barrel right now. that's 24% below whe...

Facebook.com/american morning. let us know. we will read some of your comments coming up. top stories. the president is feeling your pain at the pump or so he says. he is announcing a new task force to root out fraud in the market. unleaded gasoline, now, $3.85. nevada sen torey, john ensign stepping down in the middle of a sex scandal. he says he is resigning may 3rd. he is in the middle of an ethics investigation. he admitted to an affair with his former deputy chief of staff's wife. investigators are looking into allegations that he paid her family nearly $100,000. authorities in japan ...