Posted on 06/22/2008 9:58:46 AM PDT by Sub-Driver
Obama calls for oil crackdown By: Mike Allen June 22, 2008 12:39 PM EST
With the cost of gas a top issue in the presidential campaign, Barack Obama on Sunday will announce a plan to crack down on oil speculation by tightening regulations on energy traders.
The announcement is further evidence that an Obama administration would take an activist, populist approach to regulating business.
Obama wants to close a loophole in federal law that exempts some energy traders from regulations that govern other exchange-traded commodities. Democrats call this “the Enron loophole” because it benefited the Houston energy-speculation firm that collapsed in an accounting scandal.
The Obama campaign accuses Phil Gramm — the former U.S. senator from Texas, who’s now a McCain campaign co-chair and economic adviser — of helping insert the exemption. Gramm's wife, Wendy, was a member of the Enron board of directors.
So today’s announcement — in an early-afternoon conference call featuring New Jersey Gov. Jon Corzine — allows the Obama campaign to both side with consumers and take a whack at McCain’s brain trust.
Obama said in a statement: “My plan fully closes the Enron Loophole and restores common-sense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future.”
(Excerpt) Read more at politico.com ...
Or does he not know that we are only a part of the world and his fiat will not extend to the rest of the world?
I suspect that he does, and that he has another agenda.
I think my license plate means I will get gas on even days of the month.
It was odd and even during the 70’s if I remember correctly.
But, sadly, not as dumb as many voters who will hear "Enron" and vote Dem. The Dems are really good at finding words that persuade, even if misleading. It's scary.
yeah, this is a great “populist” approach. I can just see explaining it in a soundbite. I suppose it’ll be “Enron, Enron , Enron”... but then they’ll have to explain what Enron was and I doubt most people got that either.
I wonder if this rookie Senator is doing drugs or just starting to believe his own press releases about him being a true messiah. His “ideas” are dumb. REALLY REALLY DUMB.
Naw, all the Dems have a problem with large scale situations. As far as Obama and his crowd are concerned the rest of the world is just another Chicago suburb.
Another Obamanation - Restoring the Soviet Union one step at a time.
Yup, that’s gonna work. His next suggestion will be to eliminate the requirement for aircraft fuel. We can just tie ropes to our shoes, lift ourselves up by pulling the ropes, and lean in the direction we want to go. He really is dumber than Pelosi and Reid (if such a feat is possible).
What needs a crackdown is the out of control liberals and environmentalists who refuse to drill and have not created one refinery in 2 decades; and that includes Obama.
Unbelievealbly stupid,sad thing is his group will all get in line.....for a dip of the koolaid.
I have no doubts if this dunce is elected by 2012 we’ll have $8 a gallon gas, 12% unemployment and one or more major attacks on our soil by terrorists.
Now that’s CHANGE you can count on.
Yes you can.
Swift boated.
Obama, you fool.
Obama’s strategy to counter McCain’s new advantage re the topic of drilling for oil is, predictably, to use a variation on stirring class envy.
I dare you, all you democrats, to stick with your opposition to domestic oil production.
From $4 a gallon gasoline to no gasoline in no time flat!
Barack Obama is dumber than Jimmy Carter combined.
Not dumb. Interestingly, the Saudi oil minister blamed speculation 3 or 4 days ago. Barry’s just following the line handed to him by his bosses.
If you read up on the Enron “loophole” and its history (to include how energy exec’s drove up California energy costs)...you start to ask some really stupid questions about how this was created and who was connected to this in congress...and one of the chief campaign supporters of McCain was a key player (Texas Phil Gramm). I don’t think the Enron “loophole” is a positive....and it certainly doesn’t help anyone except drain their pocket and bank account faster. Course....if McCain says the Enron “loophole” is a super positive for America....it must be so...right?
Hey, Marxism worked for the Soviet Union, why not here?
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