The Obama administration released a statement today, saying that there appears to be sufficient supply of non-Iranian oil to permit foreign countries to significantly reduce their import of Iranian oil, with CNBC's John Harwood. Helima Croft, Barclays Capital, and John Kilduff, Again Capital, weigh in.
Oil prices are up. Barack Obama is to blame. Drilling in the US is the solution. This is the mantra from the president’s opponents. All presidents tend to get the blame for high fuel prices. But with the price of gasoline nearing $4 a gallon, Mr Obama is getting it by the barrel load. The FT reports.