Posted on 07/25/2008 8:47:24 AM PDT by tobyhill
WASHINGTON, July 25 (Reuters) - U.S. legislation to rein in excessive energy speculation failed a key procedural vote on Friday to move forward in the Senate, and now lawmakers will set aside the bill to consider other legislation.
The House of Representatives may take up its own anti-speculation bill next week, and then lawmakers will get ready to leave for their month-long recess in August.
Sixty "yes" votes were required in the 100-member Senate for the bill to move forward, but the measure received only 50 "yes" votes and 43 lawmakers were opposed.
(Excerpt) Read more at reuters.com ...
Typical al Reuters article. Look at the headline and the lead paragraphs, and you’d think that the Evil Republicans are blocking a virtuous effort by Good Democrats to prevent “speculators” from raising the price of oil.
You have to read it to the end to see that the Republicans want to DRILL, but that the Democrats—still Good, of course—want to protect the Environment from these Profiteers.
Typical. But I don’t think it will work, in this case, if the Republicans only show some courage and speak out.
Reigning in speculators = driving the trading markets out of the USA?
Quickening the transition to trading oil in Euros instead of dollars?
Thoughts?
The reason speculators are bidding the cost of oil futures up is that the US refuses to drill. The Democrats have the whole issue backwards.
BAHAAHAAAHAAAAAA!!!!!
(thud)
(rolling)
You're a funny man! Republicans - courage...
BWAHAAAHAAAAAA!!!!!!
If they speak out, who will publish or air their words, without changing the meaning about 180 degrees? Other than the Right Wing Hate Radio of course, but that's mostly preaching to the choir.
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