Looks like another Bush Veto on the horizon.

Here is another bill that will have to wait for a President McCain or a President Obama's signature.

Nope, passed with enough to override. House and senate

The usual too little too late gang sucks again!

Actually this bill passed with more than enough votes to override any veto. Although I wish it hadn't. Giving subsidies to farmers making 1.5 mil a year is absurd. And that is the amount a couple can make and still get subsidy money direct deposited according to this bill.

We can thank Goldman Sachs analyst Arjun Murti for manipulating energy prices and for hyping research the same way Merrill Lynch analyst Henry Blodget created false research. False research is common on Wallstreet. Oil Fundementals suggest oil prices should be $60 to $75 a barrel based on true supply numbers.

The CambridgeInstiture.com says there is 3 times the amount of crude that wallstreet and big oil says exists.
Sure we'll run out one day, but why to we have to be raped at the pump? Bush, Cheney and guess what......Halliburton and KBR Resources also have oil trading divisions that trade oil commodity contracts also know as oil futures......and their future has been looking bright so far!!!!! Time for the oil investigations to shift to wallstreet and the hedge fund crooks!!!

“Because of the Enron loophole, regulators have been unable to prevent major price distortions in some U.S. energy markets in recent years, and the result has been felt by millions of American households hit with higher energy prices,” Mr. Levin said in a statement.

Mr. Levin has been a critic of commodity speculation in the past few years. And in 2006, a report by the Senate subcommittee on investigations found speculation had contributed heavily to the steep rise in energy prices and noted that as much as $20 of the $70-a-barrel crude oil price at the time was due to speculation.

Earlier this month, Mr. Levin and Sen. Jack Reed (D-R.I.) asked the White House to create a task force made up of the attorney general, Treasury secretary and other agency heads to investigate whether oil and gas speculators were driving up oil prices. The price of oil has gotten as high as $125 a barrel in the last couple of weeks, and the senators wrote that 20% of that price may reflect excessive speculation, the senators wrote

Call my rep. Taihart and my congressman Brownback about oil speculators got the same line from both . That oil is in short supply, anwer and oil refinerys are needed. And that they have look into it. That oil speculation is not the problem.
Go figure!

Speculation is more the problem than anyone will admit. The basic problem is that the oil that is coming out of the ground today has already been sold 6 months to a year ago. Normally, that oil future would then be sold at market rate and the investor would walk with his profit. However, that is not happening.. the investor is sitting on his oil until the price drops. Thus there is less oil actually going to the refineries, thus driving the price even higher. Since the investor has only 10 cents invested on the dollar, he has every incentive to hold onto it. Eventually, tho', someone is going to blink and sell his reserves. That will drop the market price by a tiny amount which will start a domino effect.

The law should have gone further to state that "full" payment be reuquired and to delineate shipping address. If one is not given their fronmt lawn will suffice.

Short oil futures!

How, just how, was a "Compassionate Conservative" willing to let this happen? Enron invented this trick, producing energy chaos in California. A Republican-controlled Congress passed it into law.

Do we need Change? You bet!

an unregulated market is not the reason oil is at $130/brl - this is a direct result of our budget deficit, iraq war, trade deficit, weak dollar and a hyper inflationary federal reserve chariman. the speculators are getting the green light from our supply-side policy makers - and don't forget that at some time in the near future production of crude will likely begin to decline. this may have been a shady deal but prices would be in this area regardless.. for the recent spike you can blame the federal reserve. when the first began to ease last year oil was at $70. aggressive easy monetary policy is inflationary and in fact the rally off the $20s in 2003 around the time we invaded iraq was after aggressive easing by greenspan who kicked off the commodity boom and credit bubble with negative interest rates. now bernanke has given us negative interest rates and the resulting spike in commodity prices - this is basic econ 101

an unregulated market is not the reason oil is at $130/brl - this is a direct result of our budget deficit, iraq war, trade deficit, weak dollar and a hyper inflationary federal reserve chariman. the speculators are getting the green light from our supply-side policy makers - and don't forget that at some time in the near future production of crude will likely begin to decline. this may have been a shady deal but prices would be in this area regardless.. for the recent spike you can blame the federal reserve. when the first began to ease last year oil was at $70. aggressive easy monetary policy is inflationary and in fact the rally off the $20s in 2003 around the time we invaded iraq was after aggressive easing by greenspan who kicked off the commodity boom and credit bubble with negative interest rates. now bernanke has given us negative interest rates and the resulting spike in commodity prices - this is basic econ 101

Well,well, the ENRON LOOPHOLE was first put into play by Wendy Gramm at her alphabet soup gov. agency to let ENRON rape the American people, and then later inserted in the dead of night into legislation by her husband, then Repub. Senator Phil Gramm. Speculation in the energy markets resulted that has driven up the cost of heating oil, jet fuel, and gasoline and that has caused job losses, family breakups, and severe economic strain nationwide. Airlines are going under.
Two Republican psychoradicals, one family, has caused probably more damage to the United States than Osama bin Laden and his entire crackpot crew.
And Phil Gramm is Sen. John McCain's economic adviser???
Could someone tell me which side the Republicans are on ??? Ours or theirs ???

Why is it that so many blame Bush for Enron? The Enron excesses took place before Bush took office, in 1993-2000, when CLINTON was President.

Of course, Bill Clinton was SO HONEST... he only lied when he was before Federal Judges or in front of a camera!

Ok, so let's not close the Enron loophole because Bill Clinton lied.

Yeah its a liberal conspiracy to blame McCheaney/Bush and their neo-con friends. The tripling of commodity prices especially crude oil is caused by just basic supply and demand economics due to the U.S. Fed Res inflation tradedebtdeficitspending blahblahblah....YEAH SURE! Doesn't it seem strange that the same people that got rich on dotcom stock and the housing boom (with its bad loans sold as AAA investments) are now also making a mint on oil futures!? Investment banker hedge funds etc are the bain of the global economy, where the top 1% eat 80% of the worlds wealth, they get the mine and the rest of us get the shaft!

its too late....not only are we blind, we are also mute

The Commodity Exchange Act passed the house 377-4. Clinton signed it. Enron got rich under Clinton and went broke under Bush; if Bush/Cheany were Enron Boys, what was Clinton?

So the liberals blame Bush for our current problems and an ex-Republican Senator for what happened while Clinton was president. How unusual.

Like $4 Gas? Get John McCain & Phil Graham to close the ENRON Loophole.

http://blog.reidreport.com/2008/06/john-mccain-enron-loophole-and-your-gas.html