What do you do when you’re president and the economy sucks? Don’t hesitate; REGULATE!

That’s Barack Obama’s mantra, and he’s stickin’ to it. He’s speaking this morning on the need to increase federal oversight of the oil markets, because, as it has been proven time and time again, government interference in markets fixes things. When in doubt, create a task force, baby!

If you’re feeling as masochistic as we are, you can watch the speechification here.

Here’s a quick preview of the speech, courtesy of CBS’s Mark Knoller:

https://twitter.com/#!/markknoller/status/192236504419016705

https://twitter.com/#!/markknoller/status/192237089956433921

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https://twitter.com/#!/jamiedupree/status/192273535119523840

https://twitter.com/#!/jamiedupree/status/192274505777938433

https://twitter.com/#!/StewSays/status/192274688167247872

https://twitter.com/#!/StewSays/status/192275165990748161

https://twitter.com/#!/DavidChalian/status/192275446073786368

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https://twitter.com/#!/jimgeraghty/status/192249032289165312

If this pledge sounds familiar… it’s because Obama and his administration announce some new initiative to do this every year, usually as spring turns to summer and the price of gas increases as Americans drive more. It’s almost like the Cherry Blossom Festival…

 Now… with gas averaging $3.89 per gallon nationally and much higher in many parts of the country, we can conclude that either every previous initiative announced by the administration was spectacularly ineffective at containing the nefarious menace of oil price speculators… or that oil price speculators are not really the reason gas prices increase.

https://twitter.com/#!/hmfearny/status/192270153440956416

https://twitter.com/#!/baseballcrank/status/192270441933574144

https://twitter.com/#!/teh_Dede/status/192273493826600962

https://twitter.com/#!/sarahbellumd/status/192274026847145985

https://twitter.com/#!/derekahunter/status/192273559173869569

https://twitter.com/#!/MediaLizzy/status/192274619158368256

https://twitter.com/#!/RBPundit/status/192274306141663233

https://twitter.com/#!/ExJon/status/192274840235945986

https://twitter.com/#!/procopy/status/192275032175689728

https://twitter.com/#!/bostonrandy/status/192275331934208001

https://twitter.com/#!/rorycooper/status/192275997012402176

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