The president is about to speak in Keene, CA, just off Bakersfield, where he will announce the establishment of the Cesar Chavez national monument. That at least is the official topic. What everyone is curious about is if Obama will bring up the topic that is on every Californian's mind today: gas prices that have never been higher. Find out shortly if the recent gas price breakout is once again the work of evil, evil speculators, some of whom may not even have a printing press, or if the market's discounting of $1 trillion in new Treasury monetizations by the Fed, or roughly half the budget deficit through 2014 has anything to do with it. Also, certainly keep an eye on RBOB and various energy margin hike after the close. After all, Obama is not known as the margin hiker-in-chief for nothing.
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