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Paper Oil, Empty Quiver

Submitted by: rba on Mon, 05/05/2008 - 09:10

F William Engdahl/AsiaTimes: Speculators knock OPEC off oil-price perch
A June 2006 US Senate . . . report on "The Role of Market Speculation in rising oil and gas prices" noted, "... there is substantial evidence supporting the conclusion that the large amount of speculation in the current market has significantly increased prices".

Press Release/Levin-Coleman: Report Finds Speculation Adding To Oil Prices (6-27-2006)
The report recommends that Congress enact legislation to close a major loophole in federal oversight of oil and gas traders, slipped into law in 2000 at the behest of Enron and other large energy traders.

My guess is the odds of seeing anything more about closing that loophole are running just about zero. Right next to the odds you'll see anything more written about it anytime soon.

[Image @ Jurist "This Day At Law", 15 October 1914].
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tags:

buzz-it!
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Good deal rba.....

Submitted by avahome on Mon, 05/05/2008 - 10:02.

So what is Hillary trying to do?

Also:

Clinton: Gas costs have been manipulated

"We know that there's market manipulation going on. So I would launch an investigation if I were president right now by the Department of Justice and the Federal Trade Commission," Clinton said.

The New York senator said any attempts to lower gas prices should require the participation of the Organization of Petroleum Exporting Countries.

"I would begin to go directly at OPEC," she said. "I think it's been 25 years where we've, you know, largely just been at the mercy of the OPEC countries."

Clinton said in addition to taking on OPEC members, she would confront oil companies about the rising cost of gasoline.

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Hillary?!?!?

Submitted by rba on Mon, 05/05/2008 - 11:54.

She wants to give you a gas-tax holiday.

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Enough already

Submitted by susie dow on Mon, 05/05/2008 - 16:07.

We need energy independence and a massive technological push to develop responsible forms of energy that won't leave a polluted planet for another generation to clean up.

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Huh?

Submitted by rba on Mon, 05/05/2008 - 16:25.

The only issues here are plugging a legislative loophole, and media failure to cover the story.

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Gas Tax Holiday

Submitted by susie dow on Mon, 05/05/2008 - 18:29.

Sorry, I wasn't clear. The very idea of a 'gas tax holiday' is a joke. So, I said 'enough already' because I want our politcos to solve problems not just keep sweeping them under the rug like they'll magically just go away.

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