A real solution to high gas prices
Jed | June 22, 2008UPDATE 07/26: According to a Wall Street Journal article, the collapse of a “private oil-marketing firm” (aka speculator) may have helped drive down prices 14% over 10 days. Seems pretty strong evidence that oil speculators are driving up prices.
Once again, MSNBC and Olbermann wade through the partisan political BS and unveil some very eye-opening information. In the video below, Olbermann explains why the Republican party’s plan to just drill for more oil will never lead to lower prices. One real way to lower gas prices is to close the “Enron Loophole” and stop insider speculation on energy commodities which is driving up the price of a barrel of gas.
To quote the Huffington Post:
The so-called Enron loophole put limits on the ability of the Commodity Futures Trading Commission (CFTC) to prevent speculative trading in energy and commodity markets. It’s interesting to note that since the Enron loophole went into effect in 2000, the price of crude has risen by nearly 500 percent.
Take a look at this extremely interesting report from MSNBC:
This is pretty damaging information against McCain and I’m surprised this hasn’t become a bigger issue in the media given the current price for a gallon of gas. I would hope that whoever becomes president will finally realize the need to help individual people is greater than the need to serve the oil companies. Although given the behavior of our current president, I’m not holding my breath.
The Stop Oil Speculators website has been setup to pressure Congress to close the Enron Loophole. Or just go straight to the Take Action webpage to send a letter to your Congressional representatives and encourage them to fix the Enron Loophole.
Where’s my air-powered car when I need it?
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