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  1. #1
    Atomic Punk
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    12.07.17 @ 12:54 PM
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    Default Obama wants energy speculator crackdown

    WASHINGTON (AP) — Sen. Barack Obama on Sunday said as president he would strengthen government oversight of energy traders he blames in large part for the skyrocketing price of oil.

    The Democratic candidate's campaign singled out the so-called "Enron loophole" for allowing speculators to run up the cost of fuel by operating outside federal regulation. Oil closed near $135 a barrel on Friday — almost double the price a year ago.

    "My plan fully closes the Enron loophole and restores commonsense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future," Obama said in a campaign statement.

    Obama's campaign blamed the loophole on former Sen. Phil Gramm, a Texas Republican who serves as Republican candidate Sen. John McCain's co-chairman and economic adviser.

    The Obama campaign accused Gramm of inserting a provision into a bill in late 2000 "at the behest of Enron lobbyists" that exempted some energy traders from government oversight.

    Houston-based Enron collapsed in scandal in 2001 when it was discovered the company had vastly overstated its income.

    McCain spokesman Tucker Bonds said McCain has supported efforts to close the loophole and noted the bill in question was signed into law by former President Clinton.

    http://www.cnn.com/2008/POLITICS/06/....ap/index.html
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Atomic Punk
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    05.31.14 @ 08:17 PM
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    Here's a dumb idea, introduce a bill in the Senate to close the loophole, jackass.

    He IS a Senator and he can do this tomorrow morning. Crap, when's this duckebag going to realize that Senators have more power than the President does.

    Nimrod.
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  3. #3
    Good Enough pal1800's Avatar
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    06.02.16 @ 09:13 AM
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    Default

    Quote Originally Posted by voivod View Post
    WASHINGTON (AP) — Sen. Barack Obama on Sunday said as president he would strengthen government oversight of energy traders he blames in large part for the skyrocketing price of oil.

    The Democratic candidate's campaign singled out the so-called "Enron loophole" for allowing speculators to run up the cost of fuel by operating outside federal regulation. Oil closed near $135 a barrel on Friday — almost double the price a year ago.

    "My plan fully closes the Enron loophole and restores commonsense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future," Obama said in a campaign statement.

    Obama's campaign blamed the loophole on former Sen. Phil Gramm, a Texas Republican who serves as Republican candidate Sen. John McCain's co-chairman and economic adviser.

    The Obama campaign accused Gramm of inserting a provision into a bill in late 2000 "at the behest of Enron lobbyists" that exempted some energy traders from government oversight.

    Houston-based Enron collapsed in scandal in 2001 when it was discovered the company had vastly overstated its income.

    McCain spokesman Tucker Bonds said McCain has supported efforts to close the loophole and noted the bill in question was signed into law by former President Clinton.

    http://www.cnn.com/2008/POLITICS/06/....ap/index.html
    I'm all for it. I have been of the opinion that speculators are significantly responsible for the high prices. But just this past weekend, I was talking with a guy who has ties to some of the Saudi's and he told me that he thinks that they are flowing at peak and that any increase would be inconsequential to easing the price. If this is true, then maybe the speculators acted with some merit along with their panic and, well maybe greed! We will see. Either way, we should have been drilling in more places here a long time ago. I'm all for alternative, but it would be nice to have a great supply of oil while we ease into the future. Now, we will all suffer for the failure of our leaders of the last 35 years.

  4. #4
    Eruption
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    10.05.17 @ 11:44 AM
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    He can't introduce bills as president. (I think)
    Your favorite band sucks.

  5. #5
    Atomic Punk
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    05.31.14 @ 08:17 PM
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    Quote Originally Posted by xaminer View Post
    He can't introduce bills as president. (I think)

    No.

    How it works is the President meets with key members of the House and Senate and tries to talk them into introducing his bill into Congress. Then the plan goes to committee and then (if it passes) it goes to the floor of the House for a vote. Congressional types then stick adendoms and riders to it and then they vote on it. If it passes Congress then it goes to the Senate and they do the exact same thing and then vote on it. If it passes it goes back to the White House for the President to sign.

    The fun part is that the bill that the President initially sponsored and the finished, approved bill that he gets back are often two different things. Bush has actually vetoed a couple of his own bills because Congress stuck a lot of pork on them.

    The best example was the Communications act, it started as a bill to get Cable TV companies to lower their rates. By the time it became a law it had been rewritten by Communications lobbyists and the cable bill went from $12.95 a month for basic to $29.95 within three years after it's being signed into law.
    "Nothing is ever what it seems but everything is exactly what it is." - B. Banzai


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  6. #6
    Unchained VF5150's Avatar
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    10.09.15 @ 09:03 PM
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    Great, we all know rising oil is a total PITA and probably very much unnessesary, but dont use it as a campain tool. Just do it. It makes you wonder how serious he is about what he says.


    "out of the seven threads he's started here, four have been closed for being cluelessly ponderous as well as outright insipid"
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  7. #7
    Atomic Punk Viking's Avatar
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    11.02.17 @ 09:45 PM
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    Default

    It's all about saying the right things to get the vote. Works that way for both candidates. I'm not singling Obama out here, because he and McCain have both been pleny wishy washy during this campaign.
    "Viking - last to sleep, first to rise, last to leave, that's how the Nords of old rocked the house." ~ timmac in the 'Texas Linkers' thread talking about yours truly. :-)

 

 

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