Tagged: Barack Obama

President Obama is setting his sights on oil-market speculators. The President laid out a plan this week that would make it easier for the government to regulate oil trading markets.

There’s concern in the Obama administration that speculators are artificially driving up the price of oil. The President’s plan would increase spending to provide better oversight of energy markets. It would also increase penalties against those who engage in illegal trading.

Michigan Democratic Senator Carl Levin is in favor of the President's plan. He thinks more regulation of the markets is needed. "This is not a situation where the market is governing – where the usual rules of supply and demand govern. As a matter of fact, if supply and demand were the driving force here, gas prices would be going down. Not up," Levin says.

The President concedes that his plan will not immediately lower gas prices. But he says it will prevent market manipulation which, in turn, will help consumers.

President Obama last came to Michigan in January when he visited the University of Michigan in Ann Arbor to give a speech on college affordability.

As Michigan Radio's Sarah Cwiek reported, today's trip will be a short, but organizers hope it will be lucrative:

The President will hold the first of two fundraisers at The Henry Ford Museum in Dearborn.

That happens to be where Republican rival Mitt Romney launched his first Presidential campaign in 2007.

Then Mr. Obama will head to a private fundraiser hosted by Detroit businesswoman Denise Ilitch.

Organizers hope the two events will help raise more than $1 million in campaign funds for the President and other Democrats.

So far, Mitt Romney has raised more cash than Obama in Michigan. That could change after today's visit.

CBS Detroit reports around 600 people are expected at Mr. Obama's event at the Henry Ford Museum and Greenfield Village in Dearborn, and attendees are paying "$5,000 to have dinner with the president and get a photo, $1,000 for a VIP rope line to shake his hand and $250 to attend."

The Denise Ilitch event will feature Michigan products, including white fish, vegetables, home brews, and Motown music. Participants will pay $40,000 for a cocktail reception and $10,000 per person for a dinner and candid photo.

Every Wednesday, we take a look at the week's state politics with Michigan Radio's Political Analyst Jack Lessenberry. This morning: state lawmakers are back in Lansing after a two-week spring break, an overhaul of the state's Personal Property Tax could be coming, and President Obama is set to spend this evening fundraising in Southeast Michigan.

Michigan Attorney General Bill Schuette said something that wasn’t true yesterday. Not anything that could get him removed from office or disbarred, mind you. But something untrue nevertheless.

He was speaking, not as attorney general, but in his capacity as state chairman of the Romney campaign. He said that this state was up for grabs in the election, adding “Michigan’s a jump ball state, and it’s not been that way since 1988.

Well, it is true that for now, anyway, both sides are pledging to wage tough, vigorous and expensive campaigns here.