The Trail: A Daily Diary of Campaign 2008

Archives

Obama Targets "Enron Loophole"

By Anne E. Kornblut
Sen. Barack Obama on Sunday rolled out a proposal to curb speculation in energy markets, a plan his advisers said would help stabilize soaring gas prices.

Obama proposed a four-step program that would, among other things, close a so-called "Enron loophole" that protects some energy futures trading from oversight by the Commodity Futures Trading Commission, his advisers said.

"I think everyone believes there's too much speculation in the oil markets, and a lot of it flows directly from that particular loophole," Gov. Jon Corzine, the New Jersey Democrat, said on a conference call hosted by the Obama campaign.

The other three components of the plan, as described by Obama economic adviser Jason Furman, are: to ensure that US energy futures cannot be traded in offshore, unregulated markets; to work toward an international regulation of oil futures markets, in cooperation with like-minded countries; and to have both the Federal Trade Commission and the Department of Justice investigate the oil markets.

As gas prices have shot above $4 per gallon, energy has taken center stage in the campaign, with both Obama and the presumptive Republican nominee, Sen. John McCain, proposing policies to ease the crunch for consumers. McCain last week reversed his opposition to drilling offshore; he has also supported a holiday for consumers from paying federal taxes on gasoline.

On Sunday, the McCain campaign said Obama is mimicking McCain on the gas loophole.

"The truth is Barack Obama is following John McCain's lead to close a Wall Street loophole that was signed into law by President Bill Clinton," McCain campaign spokesman Tucker Bounds said in a statement. "John McCain has supported bipartisan efforts to close this loophole and will work to address abuses in oil speculation. Barack Obama has voted the party line for Democrats who claim the loophole is fixed. The fact that Barack Obama is attacking John McCain, despite McCain's leadership on the issue, shows that Barack Obama is driven by the partisan attacks that Americans are tired of."

Posted at 3:15 PM ET on Jun 22, 2008
Share This: Technorati talk bubble Technorati | Tag in Del.icio.us | Digg This
Previous: Obama Supports FISA Legislation, Angering Left | Next: A Better Battery?


Add 44 to Your Site
Be the first to know when there's a new installment of The Trail. This widget is easy to add to your Web site, and it will update every time there's a new entry on The Trail.
Get This Widget >>


Comments

Please email us to report offensive comments.



1sqfym0sz http://www.736754.com/859135.html > vhmw6ewx62j478 [URL=http://www.813650.com/933653.html] szc0wha3fqs8hdjd [/URL] gj8zebimwc6ebx8t

Posted by: 71rgt4qxox | July 3, 2008 9:02 PM

To bm you asked:
"what have the republicans done in the eight years to help this crisis we are in??? "
1) the difference between now and then is
$4.00 gas versus $2.00 ok?
2) Difference is then most GOP were not RINOs and over 8 years more RINOs have adopted "global warming" agreement with Democrats in more issues than agree,i.e. no drilling in Anwar/off the coasts.

3)"Now 5 months before an election, Mccain and Bush now want to drill for oil,when they both opposed it,and futhermore the Bush Admin has not once talked about drilling for oil until a week ago,"
Again Difference $4.00/$2.00 Don't you understand economics?
They weren't cause 8 yrs ago China/India didn't consume 30% of current 20 million brls/day!

4) You evidently didn't see yesterday congressional hearings where experts said 30 to 40% of $135/brl is speculators. This is up from 17% 8 years ago.
And why are these speculators now doubled?
Soros devalued the dollar and buys oil with devalued dollars. Soros made $2.9 billion in 2007.

Posted by: Jim | June 24, 2008 12:53 PM

5oljj02anjvvfmu http://www.433448.com/476651.html > 3nw2ce6sen4o5fkx [URL=http://www.205593.com/647319.html] iyp6fgtlvyzbzm5 [/URL] z3s2mu36

Posted by: 480mufz7ti | June 24, 2008 10:18 AM

Hey, Mike, you said that you trust Bush "Ions" more than Obama. How many charged particles are we talking about? And Marx? Are you kidding? You need more Ions in your brain.
___________________________________________
I see you're pointing out my speed typing error. "Ion" should be "eon". But maybe you should be more concerned about the empty suit Obama who is a possible future president that thinks there are 58 states...just one of many of this Marxist faux pas. Sounds like your empty suit candidate needs a lot more upstairs.

Posted by: MIke | June 24, 2008 12:38 AM

Hate is a pretty strong word! Oh and by the way, what have the republicans done in the eight years to help this crisis we are in??? Now 5 months before an election, Mccain and Bush now want to drill for oil,when they both opposed it,and futhermore the Bush Admin has not once talked about drilling for oil until a week ago,if the republicans were that concerned,Bush had 8yrs to lift the ban, after all from 1995-2006 the house and senate was controlled by the republicans, so he could of gotten the ban lifted,when he was elected, where has he been for 8yrs? Just remember even if we do drill, it will take 10yrs before we see this oil, and no doubt that oil will not stay in america, we will sell it to other countries for the oil companies to make even more hugh profits!
This is just another political gimmick!

Posted by: bm | June 24, 2008 12:12 AM

Oil, oil, oil! I love oil! I hate Obama and anyone who tries to stop the honest oil companies from making an honest buck. The solution to the future of energy is not alternative clean fuel as these stupid environmentalists suggest, but instead it is more oil. We need to drill holes in the heads of seals to find more oil! I love oil!

Posted by: Typical Republican | June 23, 2008 11:14 PM

to Deliverer of Truth

Change for what.United States of Communist America.I guess you also drink from the income redistribution fountain.

Posted by: david not awhite guy | June 23, 2008 11:11 PM

Hey, Mike, you said that you trust Bush "Ions" more than Obama. How many charged particles are we talking about? And Marx? Are you kidding? You need more Ions in your brain.

Posted by: Will | June 23, 2008 10:06 PM

Oil, oil, oil! I love oil! I hate Obama and anyone who tries to stop the honest oil companies from making an honest buck. The solution to the future of energy is not alternative clean fuel as these stupid environmentalists suggest, but instead it is more oil. We need to drill holes in the heads of seals to find more oil! I love oil!

Posted by: Typical Republican | June 23, 2008 7:34 PM

DO YOU TRUST BUSH????????????
________________________________________

I trust Bush ions more than an empty suit ultra liberal Marxist Obama who will put more Americans in bondage to a big, bloated government and depress the economic engines of our country. The Democrats have controlled congress 2 years and energy prices our skyrocketing with their no practical domestic energy policy. The speculators are a barometer of the market and they see grim days with an Obama and a continuing Democrat congress.

Posted by: Mike | June 23, 2008 6:26 PM

Sorry shermaro. That comment was meant for Jeff.

Posted by: Ed Lynch | June 23, 2008 6:16 PM

And he definitely caved as the article above points out:

"McCain last week reversed his opposition to drilling offshore."

Posted by: Ed Lynch | June 23, 2008 6:13 PM

shermaro,

Clearly McCain is now pushing for more offshore drilling only to shore up his base. He knows it won't reduce gas prices much or anytime soon.

He is using $4 gas as an excuse to damage our environment, and destroy tourism, all to increase the future profits of multinational oil corporations and stick it to the environmentalists. It's all about money and partisan politics and has nothing to do with actually addressing the problem of $4 gas.

With American's paying more at the pump, and Republicans on the attack with their non-solutions, it's getting harder to address the bigger problems of global warming, and peak oil. Clearly we need to focus on sustainable alternative energy and conservation. And do we really like our long daily commutes? Maybe we should work on living closer to where we work. The government can play a role in encouraging urban renewal and discouraging sprawl.

But all the Republicans seem to want to do is ignore all the problems and give billions in future profits to big oil.

Ed

Posted by: Ed Lynch | June 23, 2008 6:11 PM

What's this about the McCain campaign working to close the Enron loophole that has contributed so much to soaring oil prices? This loophole was created by then-Senator Phil Gramm (R-TX). Today the McCain campaign's chief economic advisor is former Senator Phil Gramm.

Posted by: shermaro | June 23, 2008 1:40 PM

McCain didn't cave. In 2006 he voted to allow drilling in the central gulf. 71 senators voted to allow drilling a little closer than 200 miles where there are lots of natural gas in the central gulf coast.

This isn't a black and white issue.

Jim Webb, Mark Warner, and Tim Kaine are for drilling closer than 200 miles off Virginia. They want to drill for natural gas. They want Virginia to get the money.

This is about states rights.

This isn't the end all be all.

McCain is for strict Cafe standards.

McCain is against anwr drilling.

McCain is for lower emissions from plants and penalizing them.

McCain is for allowing the state of california to allow lower emissions.

McCain has taken ten positions different than Bush on this issue.

McCain is for more alternative energy sources.


Posted by: Jeff | June 23, 2008 1:22 PM

Now that McCain caved on allowing oil drilling within 200 miles of our beaches, is opening up ANWR far behind? I once thought he was a man of principle, but now he appears to be willing to ignore his principles for a few votes.

It's just amazing to me that McCain and many Republicans are willing to use high gas prices as an excuse to give big oil what they want. This won't do anything to reduce gas prices, at least not this decade.

And what does this say about McCain's principled stance on global warming? Are we going to drill, drill, drill our way to cutting greenhouse gas emissions and avoiding catastrophic global climate change?

Posted by: Ed Lynch | June 23, 2008 12:41 PM

One thing neglected to be mentioned is the connection between ENNRON and Aurthor Anderson Public Accounting Firm that handled the Retiree RIP off of the century - Aurthor Anderson PAF was also handeling the Retired Federal Employee Retirement Trust Fund Account.
In the Hearings, the Office of Inspector General was allowing the felony fraud against ENNRON Retiress and were refered to as - misconduct ' instead of OIG.
.
RICO - 1996 HIPAA - 1998 CLINTON

ALSO in 1998 - CLINTON Administration - The U.S. Attorney General and the Office of Inspector General ( Department of Health & Human Services ) enacted a Federal HMO Program to DENY Retired Entitled Federal Beneficiaries Post Hospital Extended Care T42CFR409.33 Services - called the VOLENTARY DISCLOUSURE Program - see 2007 -- H.R. 3199 - USA PATRIOT Conference Report (Sensenbrenner - Judiciary)
.
USA PATRIOT ...... SSA 1128b ...1996 HIPAA.... 1998 still pending 2008 ....... T18CFR1518crime - Obstruction - Violation of Crime Victims Rights - Under federal law [42 U.S.C.10606(b)] and also 42 USC 1983. Civil action for deprivation of rights and The U.S. Constitution: Fourteenth Amendment.
.
Sincerely,
All ENTITLED Federal Employee Health Beneficiaries & the General Public who are being criminally denied DHHS T42CFR417.1 Existing ( Federal \ State \ Private ) HMO Health Insurance Coverage, illegally billed for HMO denied covered claims and forced into HCFA State Medicaid Programs for the POOR. Title18CFR1001Crime. T18CFR371CRIME.

Posted by: JustMyOpnion | June 23, 2008 12:12 PM

fred wrote:
"The budget was NEVER balanced under Clinton, nor was there EVER a surplus in the Clinton years. If you don't believe this, go straight to the US Treasury Dept. website and find out the unpleasant (for you) truth."

fred,
I didn't believe what you said, and with good reason. I just went to the Treasury Dept and looked it up. The 1999 budget WAS the first balanced US Federal budget in thirty years. It took Clinton almost his whole tenure as President to accomplish this. Here's a direct link, feel free to check it out for yourself if you don't believe me:

http://origin.www.gpoaccess.gov/usbudget/fy99/pdf/budget.pdf

I'm sorry if those years weren't prosperous for you, but the Clinton years were prosperous for me and for many other people.

Posted by: Jules | June 23, 2008 11:17 AM

Sorry from Canada, the people who live in igloos.
Man blogs like that that peeve me off.

Posted by: justadad55+ | June 23, 2008 11:16 AM

Sorry from Canada, the people who live in igloos.

Posted by: justadad+ | June 23, 2008 11:15 AM

Man Read this Post, May I remind the blogger there are BUMS that have not been given a chance. Iraqis children will get lots of support from your country. The words were, I am not in favor of any welfare programs, corporate or otherwise. May I suggest to this blogger even a dog has to be fed? That she, he or both, is calling an American person in trouble a BUM. Must be a spoiled brat that inherited daddies wealth, illegally of course. Fall, like the Clintons, and the gas is not coming back soon friend. Food might even get to expensive for you to eat. Also the Clintons have a bomb shelter, DO YOU??

The post is below.

The government is OUT of money. I don't want my taxes raised.

That's why I am a centrist Democrat, like the Clintons. Oh, how I miss the Clintons. The days of balanced budgets, budget surplus, PEACE. PROSPERITY. Wow, it WAS great

Posted by: Anonymous | June 23, 2008 11:13 AM

Closing the "Enron loophole", signed into law by Bill Clinton, would be a good start. Even more important is to dismantle the Kyoto Protocol carbon cap emissions trading, against which oil futures are hedged.
- Wm Tate,
http://www.atimelikethis.us/

Posted by: Wm Tate | June 23, 2008 9:34 AM

Hate to tell you this, "JK" -

The budget was NEVER balanced under Clinton, nor was there EVER a surplus in the Clinton years. If you don't believe this, go straight to the US Treasury Dept. website and find out the unpleasant (for you) truth.

"JK" said

"I am not in favor of any welfare progams, corporate or otherwise. (If you're a Democrat, you DO favor welfare - for a group of bums that gives you NO RETURN on your investment)

The government is OUT of money. I don't want my taxes raised. (If you vote Hussein, you'll be seeing your taxes raised enormously - why don't you get educated before you open your piehole?)

That's why I am a centrist Democrat, like the Clintons. Oh, how I miss the Clintons. The days of balanced budgets, budget surplus (see above), PEACE (WTC first attack, etc.). PROSPERITY (??). Wow, it WAS great!" (having a scumbag for President)

Posted by: JK | June 22, 2008 9:55 PM

Posted by: fred | June 23, 2008 9:04 AM

To all of you that repeat the "cars that run on water" stories...
1) Have any of you actually seen "cars that run on water"?
2) Why on earth would sophisticated speculators that are driving oil prices up continue to buy OIL futures into 2016 if they though "cars that run on water" existed?
3) If some of you who think that Hydrogen vehicles are the same as cars that run on water" you may want to consider this very sobering fact:
There are 61 hydrogen fueling stations in the country each of which requires environmental impact statements, zoning laws, etc.
There are 180,000 gas stations.
We didn't get those 180,000 stations overnight you know!
See those of you who jump to emotional conclusions seem to forget these little details!
So please find me a car that "run on water"right out of my tap!
Oh along that vein... all of you that believe this "cars that run on water" stuff have you ever seen any studies on the disruption of wind flow patterns that wind turbines are now having on our weather?
Think about the butterfly creating thunderstorms in the mid-west that caused all the floodings.

I'm sure you are laughing about that just as I'm laughing at your "cars that run on water" answers!

Posted by: Jim | June 23, 2008 8:07 AM

doesnt_suffer_fools

" profit unless they are an oil company?"
Of course I don't criticize a profit even for oil companies! But in this case you fools don't seem to realize how you've been played by the MSM/Soros funded Moveon.org to repeat gross exaggerations of Iraq situation and these gross exaggerations lead to continued deaths. The military won in Iraq. The 4th estate in the US, i.e. MSM/Soros/Moveon.org did everything,wrote everything repeated eveything to kill more troops and that was part of how Soros made $2.9 billion in 2007! I don't fault Soros I fault idiots like you that believed the MSM and call your self doese-suffer -fools!

Iraq was a fools errand - "they were never a threat to the U.S." If that's the case why did we get involved in Kuiwait? And again you and others grossly politicized and miss a major point! Saddam was the truly only one direct person in the ME that had all sorts of sanctions, 17 from UN alone, all of you at the time decrying his butchery and you evidently don't remember at the time 9/11? Do you not know Saddam was training terrorists? Plus only fools go after the symptom i.e. Osama.. the cause was in part again in part in Iraq. You seem to conveniently forget Saddam PAID $25,000 to suicide bombers families!
"keeping Iran in check." Geez, sounds like Chamberlain/Obamba speak..."just go along to get along" What did that give us?
9/11!!!!
You further stupidly said.."Cheney and Rumsfeld met directly with Saddam." Duh! You evidently didn't see Charlie's War"nor know anything about Charlie Wilson A Texas DEMOCRAT that funded Osama Mujahideen during what time the COLD WAR!!! Again suffering fools!!! Iraq/Saddam was a pivotal ME during the Cold War and Russia and the US curried Saddam's favors. But things change only fools like those who can't read and connect the dots don't change!

"But all of that history doesnt mean anything if your a republican" You need to understand history plus I've lived through it you fool! -
"we will just rewrite history to place the blame at the feet of the demoocrats "

Talk about re-writing history!
A) WWI started by Democrat re-write that!
B) WWII A democrat
C) Korea A democrat
D) Vietnam a Democrat
E) Iraq - A DEMOCRAT who thought that
Osama would surrender to a court order!
Clinton had Osama but couldn't get a
extradition order from Sudan!
F) Famous Gorelick Wall between the CIA and
FBI PREVENTED the agencies from "connecting-the-dots" of 9/11.
SO please would you mind not talk about history. I have been there and I know the truth and evidently you have not.
I am not politically motivated. I am an observer who also knows from more study then you evidently that Soros/MSM bias/Democrats/ and people like you were what we called during WWII traitors. Traitors because you give aid and comfort to the enemy,i.e. the thug/barbarians that were "emboldened" as the Harvard study shows to continue their barbarism and you encouraged them! For political gain and that's is so crass, so venal, so totally disgusting. Putting your political agenda above people's lives!

Posted by: Jim | June 23, 2008 7:53 AM

What a laugh. The proposal is like a Potemekin Village: All facade, no substance behind it. Does anyone believe that this will affect this country's addiction to oil. Instead of bringing forth sustantive proposals which attack the supply and demand imbalance, he goes after the most negligble aspect of the problem.

Posted by: no spin | June 23, 2008 7:36 AM

do a little research. the loophole was not signed by Clinton, but by Bush Senior. The person backing it? now a part of McCain's staff.

Posted by: Carter | June 23, 2008 1:11 AM

McCain's campaign is so two-faced. They say one thing and do another. They say that McCain is "leading the fight" to help consumers at the gas-pump, but they're NOT doing any such thing. McCain's campaign continues to do things that help WEALTHY people, like CEOS of oil companies and other upper-class groups. We can look to examples like the fact that McCain's tax plan mostly helps wealthy people, and his campaign works directly with lobbyists that benefit the wealthy. What does this show us? It shows us that McCain is two-faced. This is unsurprising though because the Republican Party has always helped people with money, and they haven't helped the middle class. It's disturbing.

In contrast, Senator Obama is doing all he can to help people - especially people with lower incomes - and that's why I support him. His energy plan is way more helpful for people living on a budget (like me). If you'd like to learn more about Senator Obama's energy plans, go to his website at the following link: http://www.barackobama.com/issues/energy/

Posted by: Allen | June 23, 2008 12:58 AM

It's not even a debate that what's his face is liar.

Posted by: Craig | June 22, 2008 11:36 PM

"patent office intentually holding up patents for oil companies,bush and McCain"

The company, Genepax, says that it is in the process of filing. That means they haven't filed yet. I'll bet you anything you like that they will never file the patent. Not because anybody would attempt to stop them filing, but because they have nothing to disclose. In the terms publicized, their invention would be equivalent to a perpetual motion machine. You could take the Oxygen and Hydrogen that comes out of their gizmo, produce electrical energy using a fuel cell, and pour the generated water from the fuel cell back into the gizmo. Voila, perpetual motion, sought by fools through the ages.

Posted by: fzdybel | June 22, 2008 11:29 PM

Ladies and Gentlemen, you have a choice this election between taking more money out of your pocket in order to make Exxon wealthier, or voting for CHANGE.

Posted by: Deliverer of Truth | June 22, 2008 11:11 PM

cars that run on water..invented by an American..but..japan will mass produce them and we will buy them from japan..instead of producing them here..patent office intentually holding up patents for oil companies,bush and McCain..i seen it on the news and watched it again on utube..now calling it japan water car..special intrests are killing this counrty.

Posted by: americanvoter | June 22, 2008 11:04 PM

stopped regulating savings and loans..and look what happened years ago..stopped regulating banks and look whats happening..stopped regulating commodities and look whats happening..and McCain wants to put our social security in the hands of these white collar criminals..are you nuts

Posted by: tom | June 22, 2008 10:56 PM

its about time someone has the guts to close these loopholes. do you think the straight talking express would..mccain went to texas to tell all of bushes oil buddies that he will continue bushes do nothing policy..japan just came out with a car that gets 90 miles per liter of water..do you think mcsame will encourage companies here to develop them..not in your lifetime..obama 2008

Posted by: americanvoter | June 22, 2008 10:47 PM

its about time someone has the guts to close these loopholes. do you think the straight talking express would..mccain went to texas to tell all of bushes oil buddies that he will continue bushes do nothing policy..japan just came out with a car that gets 90 miles per liter of water..do you think mcsame will encourage companies here to develop them..not in your lifetime..obama 2008

Posted by: americanvoter | June 22, 2008 10:47 PM

I've gotta admit it - Barry Hussein does look like Dukakis when he's got that cartoon - looking seal in front of him.

Kind of like a little boy playing soldier i9n daddy's uniform.

Quite farcical.

Posted by: fred | June 22, 2008 10:33 PM

@JonnieB: "We Republicans will once again win because we are organized."

You mean the way you won the midterm elections in 2006? Organization only goes so far when most of your party leaders are bereft of vision, competence, and basic moral decency. The Republican party is well on its way to joining the Whigs and the Know Nothing party in the dustbin of history, propelled by the countless failures of the Bush administration.

Posted by: BuckD | June 22, 2008 10:23 PM

Interestingly, we haven't really addressed the gap between the rich and the poor as one of the root causes of higher oil and food prices.

As the percentage of the total money in the economy shifted from being widely distributed to being concentrated in the hands of a very few, they had to decide what to do with their increased wealth.

A very few of them invested the money in their own companies, or gave it away.

Most of them used financial markets to try to further increase their wealth. A preferred investment venue has been hedge funds, which are largely unregulated.

This increased wealth, for a time, poured into the real estate markets, creating more wealth (on paper) and eventually bubbling out. Although billions and billions were lost, lots remain, and more continues to accrue to the wealthy.

When real estate collapsed, they began to look around, and picked commodity markets as a good place to further increase their wealth.

The huge influx of money that previously went to real estate has been a big contributing factor to the run up in commodity prices (not to let ethanol off the hook!).

But common sense says this can't go on for ever. Eventually the poor and middle class have nothing left to bleed, and these bubbles will collapse (alas, leaving hunger and privation in their wake).

Regulating speculation is a requirement to get a handle on the problem. But eventually, the poor distribution of wealth must also be addressed, one way or another.


Posted by: PatrickInBeijing | June 22, 2008 10:22 PM

"Let the long overdue vetting of Obama finally begin... It's a political eternity until the end of August"

I dunno. There don't seem to be a lot of campaign contributions coming into Republican coffers to support a good smear campaign, if that's what you meant. The smart money is on the Democrats.

Not to mention, I think many Republicans and (ahem) Clinton supporters view Obama as so intrinsically unelectable, that the task of smearing him has perhaps taxed their imaginations. Everything they do come up with seems incredibly reaching. The whispering campaign just looks silly.

As for whether Obama will put a foot wrong, so far so good, though the surveillance thing seems to want more finesse applied. But he seems to be pulling ahead in the polls. I guess that means he's going to vet well.

But we still have a long, hot summer to get through. I can sympathize for anyone who will have to spend each day of it sweating away to spread manure.

Posted by: fzdybel | June 22, 2008 10:19 PM

If you want to quit using a huge amount of oil in this country just give the railroads some of the subsidies that the government is giving to the oil companies. But give it on the condition that it is used to electrify all the railroads. It would shift the use of millions of barrels of oil to coal, atomic, water and wind.

Posted by: Old Coot | June 22, 2008 10:16 PM

Bush set it up for he and his buddies to make a ton of money over the last 8 years now he wants to free up valuable land for them to purchase...thank goodness it's coming to an end...I can't wait to see what the DOJ and FTC come up with and I'd like to see them get plenty of support...Obama does that McCain doesn't.

Posted by: 8yearsofproof | June 22, 2008 10:09 PM

You Democrats are doomed. As Will Rogers said, "I don't belong to any organized political party. I'm a Democrat."
You are Professional Election Losers and you always will be. We Republicans will once again win because we are organized. So stick by your ideals once again and vote for Nadar ... or hey, how about writing in Hillary? Democrats are such morons it is fascinating.

Posted by: JonnieB | June 22, 2008 10:08 PM

Cloud9ine: Very good comment. Like my pappy always said to us youngins, "well, ya gotta consider, are you going to believe what your ears hear or what your eyes see?" I'm sooooooooo disappointed in McCain's lack of candor (candor = Openness = unreserved honesty or frankness in expressing oneself). I may not be supporting McCain but I was listening and watching him just in case. More Republican talking points and that indiot puppet on the view will be republican talking pointing away on this one.

Posted by: MissClarity | June 22, 2008 10:03 PM

I am not in favor of any welfare progams, corporate or otherwise.

The government is OUT of money. I don't want my taxes raised.

That's why I am a centrist Democrat, like the Clintons. Oh, how I miss the Clintons. The days of balanced budgets, budget surplus, PEACE. PROSPERITY. Wow, it WAS great!

Posted by: JK | June 22, 2008 9:55 PM

I miss Hillary. There just isn't any excitement without Hillary in the race.

What WILL the media do without Hillary to bash? So many have made their fortunes bashing Hillary and Bill. What will they do now? No one is allowed to critize the "precious" one or you are labeled the dreaded "R" word.

Obama is icky. I could never vote for Obama who is unqualified and will prove to be unelectable. Nice screw up Dems.

Let the long overdue vetting of Obama finally begin... It's a political eternity until the end of August when the DNC holds the convention to actually nominate the candidates. Let's hope for a total political implosion of Obama BEFORE the Dems foolishly nominate Obama. Obama's "fake Presidential seal" was SO juvenile.

Posted by: JK | June 22, 2008 9:52 PM

Is he going to do this like he was going to take federal campaign financing? Hmm...

Posted by: John | June 22, 2008 9:51 PM

And while McCain says Barack is only following his lead, consider this :

In 2002, McCain voted to close the Enron loophole.

The recent farm bill, vetoed by Mr. Bush had in it a provision to close the Enron loophole. McCain was against this bill.

Let's talk action, not words, shall we.

Posted by: cloud9ine | June 22, 2008 9:46 PM

"Look at all the "corporate welfare" in total dollars given to the petroleum companies and compare it to total sales. It is a drop in the bucket."

Actually, it's a fixed percentage of the entire bucket, and it's called an oil depletion allowance. It's a huge sum of money that the US government foregoes and does not collect from the oilcos. And then there were recent statutory grants of tens of billions of dollars more, on top of that. The oilcos have been given tax bennies generally far beyond the largesse routinely offered up to other corporate persons.

If even a fraction of what we currently spend on oil were redirected to the development and subsidization of renewable sources of energy, it would have significant positive effect on our long term economic outlook.

Posted by: fzdybel | June 22, 2008 9:42 PM


what is the point of offshore drilling when thousands of onshore drilling leases are just sitting there, not being used. When the oil companies cut production when there is a small dip in demand.

When the current prices are not driven by the supply-demand curves. No amount of supply increase will kill this price rise. There are indeed other forces at play. One of them is speculation.

Posted by: cloud9ine | June 22, 2008 9:42 PM

"george Bush Sr is the reason offshore drilling is banned, no democrat did that. George Bush did."

There is also a Congressional moritorium on off shore drilling that will take a majority vote in Congress to lift.

GW already said he would lift the executive order if Congress will do the same.

Posted by: PAO | June 22, 2008 9:33 PM

"All we need to do is remove the corporate welfare being given to the fossil fuel industries, and instead, provide tax incentives to purchase alternative energy.

Then fossil fuel will find it impossible to compete against the lower costing alternative energy source"

Look at all the "corporate welfare" in total dollars given to the petroleum companies and compare it to total sales. It is a drop in the bucket. You claim that by taking that small amount of money and using it to subsidize alternative energy, you can undercut the total sales of oil companies. It is so absurd that it isn't even slightly funny.

Posted by: Ed | June 22, 2008 9:29 PM

"Obama will do great things. He will win the Presidency and undo what was put in place the last 8 years.
http://youngdemocratsforchange.com
Posted by: Suzanne | June 22, 2008 7:53 PM"

you are so right, he will make the iraquis suffer and die for wanting their freedom, who will he install as dictator of iraq...

Posted by: Dwight | June 22, 2008 9:25 PM

george Bush Sr is the reason offshore drilling is banned, no democrat did that. George Bush did.

Posted by: Dave | June 22, 2008 9:25 PM

Why doesn't somebody ask B. Obama why he does not use the Federal gas tax to fund alternative energy projects instead of a windfall tax on oil companies which we all know will be passed on to us the consumer?

Isn't the federal gas tax a windfall to the government?

Look to this site.

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/petroleum_marketing_monthly/current/pdf/enote.pdf


JM

Posted by: JM | June 22, 2008 9:09 PM

To be certain, we CAN and we MUST achieve total energy independence; but, our Nation can only extricate ourselves from this self imposed dilemma by a broad-based, comprehensive NATIONAL ENERGY STRATEGY that BLENDS all of the elements of: conservation; major increases in transportation efficiencies, such as increased mileage standards; exploitation of our indigenous petroleum resources; fast-tracking of regulatory criteria; a significant expansion of our refinery facilities; major investments in nuclear energy; supplementation of our electrical grid with solar, wind, geo-thermal, and hydro technologies; and, a major investment in Research and Development to bring a Hydrogen and Fusion based economy to fruition. Unfortunately, to dig ourselves out of this self-created coffin-corner will require TIME. Time which simply means that, in the interim, we must protect our access to unstable Middle East suppliers until we bring our own assets on line. The latter exigency which could readily be scuttled by the Cut-And-Run crowd on Iraq. The regional chaos which would be precipitated by an Iranian regional hegemony subsequent to a precipitous American withdrawal from Iraq would make the current cost-escalation in energy supplies from the Middle East seem like the Golden Age of Yesteryear by comparison; and, most certainly would induce a much wider conflict/conflagration. The myopia of the Left on these circumstances is astounding. As history has repeatedly taught with grim consequences, PEACE and STABILITY are won only THRU STRENGTH; and, NOT THRU the nebulous psychosis of HOPE. Greg Neubeck

Posted by: Greg Neubeck | June 22, 2008 9:08 PM

Alternatives will be fine -SOME day- but for now, it's coal, nuclear, and drilling. Period.

Posted by: muskrat | June 22, 2008 8:52 PM

WRONG!!!

Alternative energy sources are here today!

All we need to do is remove the corporate welfare being given to the fossil fuel industries, and instead, provide tax incentives to purchase alternative energy.

Then fossil fuel will find it impossible to compete against the lower costing alternative energy sources.

Posted by: KEVIN SCHMIDT | June 22, 2008 9:04 PM

I think Senator Obama will play the race card throughout his entire presidency. When things don't go his way, the subject of race will be an issue.

Posted by: Sandy | June 22, 2008 9:01 PM

It would have been nice for WaPooPravda to actually print at least a summary of Obama's plan. Instead they smear him by parroting the neocon propaganda claiming Obama's plan won't work.

Why won't WaPooPravda let the readers decide for themselves?

Posted by: KEVIN SCHMIDT | June 22, 2008 9:00 PM

Robert Lewis - Obama's mother's social security application is very interesting. Thanks for showing us. gw.

Posted by: Iowatreasures | June 22, 2008 8:54 PM

Sorry folks, but you can't get oil by spouting about hope and change. Alternatives will be fine -SOME day- but for now, it's coal, nuclear, and drilling. Period.

Posted by: muskrat | June 22, 2008 8:52 PM

Exxon--Enron--Whats the difference? Whats the big difference already? What's McCain doing trying to regulate energy trading? He's Big Oil's boy ain't he, just like Bush/Cheney? Does anybody else notice it's ALWAYS the republicans who first start BLAMING the democrats for this & that & blah blah? George Bush can't keep out of it this year. He jumped on the energy issue like a bulldog after a T-bone steak. He couldn't wait to open his lying mouth and blame democrats for opposing offshore drilling. I guess he still believes Americans are basically stupid, just like they were when they elected him. Republicans are ALWAYS the first to start slinging mud & don't take blame for a single inimical circumstance. Then they espouse this "reach across the aisle" crap. Why don't they just shut the bad mouthing & do the "right thing", which is of course whats best for the country at large & not just do their "special interest" duties like obedient little puppets?

Posted by: BasilPelensky | June 22, 2008 8:48 PM

Doesn't sound very creative at all. The hot money that goes into the oil market is the same money that went to buy risky real estate securities: the retirement funds. If the government do not stop encouraging people to put their money into these risky investments, cracking the market will simply decrease the retirement money in people's accounts, and the speculators will go elsewhere to create new bubbles. Obama and his gang are trying to change the way 401 k operates. Instead letting people choose how to save for their retirement, the government will invest part of your salary into the market until you file paperwork to opt out. This will only exacerbate the economic problems.

Posted by: God Father | June 22, 2008 8:40 PM

"And yet they're still the number one producer of pollution."

No, USA is still #1. Get your "facts "straight!

Posted by: Mt | June 22, 2008 8:33 PM

"Does anyone really think they are changing minds out here in the blogosphere or do they just labor on for their personal arousal?"

Nobody will change the mind of those committed to the opposite opinion, but those readers who are not yet committed may be positively influence by intelligent discussion.

Posted by: Mt | June 22, 2008 8:32 PM

Oh, BTW, here you can read about your so called "non-existant [sic] cheap solar": http://www.google.com/corporate/green/energy/

Posted by: Mt | June 22, 2008 8:30 PM

Renegade capitalism reflects no human sentiment but only a view first to moneymaking. Big oil companies and oil states function in a world market with minimal controls over this valuable commodity of oil, sometimes called "black gold." No one entity can stop or retard this dynamic global environment involving user demand, various supply sources, population increase, national progress, intense self-interest (if not outright greed), power, and control. America may protect itself in this untamable maelstrom via a crash program to put in place alternative sources of energy and fuel, to reduce dependence on oil imports over time. Doing so will require national leadership and direction looking to a positive impact on the ordinary citizen.

Posted by: anotherview | June 22, 2008 8:29 PM

Personal arousal, and anyone who claims differently is lying to themselves, or is a complete tool.

Posted by: Anonymous | June 22, 2008 8:29 PM

Transparency in the trading markets is clearly a good idea. But, it is also an easy one to be for. The more difficult issues include how we find adequate energy supplies, how we pursue free trade in a global economy, and how we pay for government social programs. Proposed solutions to those kind of problems have a potential to distinguish the candidates and fragment their support bases.

Posted by: dnjake | June 22, 2008 8:28 PM

mcain kind of looks like a cross between a giant albino hamster and barney the dinosaur. His wife is way out of his league, obviously, im talkin' totally. How did he bag a babe like that? Something is definitely strange.
Obama is a black dude apparently, and I think it would be pretty cool to have a black dude run the country for awhile, whereas an old white dude with a hot wife might be kind of distracting because everybody (like world leaders at the white house on a sleepover) will be like ignoring him and checking her out. Not that obama's wife is chopped liver, not by any means, don't get me wrong. She's very attractive lady. They're more each other's speed so it won't be such a distracting mystery all the time to everybody like it is to me.
These are my critical observations from a neutral standpoint. I hope this helped people make their decision for november

Posted by: neutral observer | June 22, 2008 8:28 PM

"China has more efficient vehicle standards than USA"

And yet they're still the number one producer of pollution.

Posted by: Q-bert | June 22, 2008 8:27 PM

Does anyone really think they are changing minds out here in the blogosphere or do they just labor on for their personal arousal?

Posted by: Putawaythelotion | June 22, 2008 8:27 PM

Yes, Republicans have done everything possible to eliminate these alternatives. We all know that Reagan decided to remove the solar panels from the white house as soon as he took office, and that Bush jr tried to challenge California's zero emission vehicle program, etc.... Your arguments just confirm that Republicans believe oil is the solution to all future energy problems, and try to destroy anything to compete with it. Hey, why don't you open up your mind and look at what the rest of the world is doing. India is developing cars that run on compressed air, China has more efficient vehicle standards than USA, etc.... Oh no, Republicans don't want people to know THIS side of the story!

Posted by: Mt | June 22, 2008 8:25 PM

"Yes, if you presume that oil is the solution to all the future energy problems. Oil oil oil, I love oil, I'm a republican, I need oil! I mix oil into my morning coffee every day. Oil, oil, more oil!"

No, no. Here's what I like:

Non-existant cheap solar.

Non-existant reliable and affordable electric car batteries.

Non-existant safe hydrogen powered vehicles.

Economy draining bio-fuels.

Unproven scalable wind technology.

Denying new nuclear power plant permits.

Posted by: PAO | June 22, 2008 8:21 PM

"Big Oil will transcend elections, Democrat, Republican, etc."

Yes, if you presume that oil is the solution to all the future energy problems. Oil oil oil, I love oil, I'm a republican, I need oil! I mix oil into my morning coffee every day. Oil, oil, more oil!

Posted by: Joe | June 22, 2008 8:14 PM

Republicans always think the solution is increase oil supply to reduce demand, rather than reduce demand by offering ALTERNATIVES.

Posted by: Mt | June 22, 2008 8:12 PM

"This election you have a choice between voting for Big Oil (=Republicans) or voting for the American people (=Obama). Which will you choose? Do you think Exxon needs more of your money, or do you think Exxon has taken too much already?"

Laughable. "Big Oil" will transcend elections, Democrat, Republican, etc. The issue at hand is who has the best plan to deal with the current situation.

Obama's plan for more regulation that has been sitting in Congress for two years now is a disengenious approach to "put something out there" in the midst of the nation's domestic energy crisis taking center stage.

Posted by: Anonymous | June 22, 2008 8:12 PM

I'm voting Republican because I believe the only solution to the energy crisis is to keep on drilling for oil in environmentally sensitive areas rather than to develop alternative cleaner energy that will benefit America rather than Exxon only.

Posted by: Republican | June 22, 2008 8:10 PM

So let's assume there is a bubble in oil prices like there was in home prices. Won't it eventually collapse of its own accord too? Won't the so called speculators get their heads handed to them independently of government intervention? The best course of action is to reduce aggregate demand and increase supply.

Posted by: John | June 22, 2008 8:10 PM

Has everyone forgotten that it was former Sen. Phil Gramm who created (or at least led) the "Enron Loophole," and until just recently, Sen. McCain has been defending it in the vote against the farm bill and defending against its repeal on oil price increases.
It would have seemed a more balanced report if Ms. Kornblut had botherd to do so along with belching out the McCain spokespersons view.

Posted by: Gadfly | June 22, 2008 8:07 PM

McCain believes that baby seals may have a small supply in their brains, and therefore one should pursue drilling holes in their heads so increase supply.

Posted by: Mike K | June 22, 2008 8:07 PM

This election you have a choice between voting for Big Oil (=Republicans) or voting for the American people (=Obama). Which will you choose? Do you think Exxon needs more of your money, or do you think Exxon has taken too much already?

Posted by: Truth Teller | June 22, 2008 8:05 PM

I love when people talk about socialism when anybody attempts to hold greedy corporate leaders accountable.

Isn't it the duty of the US govt to protect its citizens? Or do you believe there should be absolutely no regulation on any industry?

History (and the current presidency) shows us this doesn't work. You see, when there is no regulation, things like the S&L scandal, Enron and the sub-prime mortgage crisis occur.

True, the govt shouldn't regulate when it doesn't have to, but when people suffer, can't drive to work, feed their family, in spite of working every day, something needs to be done.

Please, stop with the labels and scare words.

Posted by: magicInMiami | June 22, 2008 8:04 PM

everbod gimme a hayull yayuh!

Posted by: mccain person | June 22, 2008 8:03 PM

true dat, true dat

Posted by: white person | June 22, 2008 8:01 PM

mmhmm reckon i lak em french fried taters mmhmm reckon with mustrd ownem reckon

Posted by: another white person | June 22, 2008 8:00 PM

NEWS FLASH

LOU DOBBS IS AN IDIOT
SORRY A BIG , BIG IDIOT

WHY CNN ALLOWS HIM IN THE AIR TO TALK TO US IS BEYOND ME

DOES HE THINK HE CAN BE THE PRESIDENT ??
HE SOUNDS SO VERY STUPID

NEITHER CANDIDATE WILL DO , HE IS THE GREATEST ! WHY ARE WE BOTHERING WITH ANYBODY ELSE WHEN WE HAVE LOU ???

HA-HA
WHAT A DUZE

Posted by: BARRY08 | June 22, 2008 8:00 PM

The last big Republican plan for cheap gas was the Iraq war. Surefire winner. Surely no one wants another "plan" from these guys. Every time these guys come up with a plan to save the "average American" money on fuel and energy, Exxon/Mobile looks forward to another $1 or $2 or more per gallon. BEWARE

Posted by: FoolMeThrice? | June 22, 2008 7:59 PM

IMPORTANT YOU ALL WATCH THIS VIDEO BECAUSE IT TELLS YOU FLAT OUT THE TRUTH ABOUT WHAT MCCAIN ( MR. MAGOOO ) IS ABOUT

HE BROKE THE LAW ( NOT FIRST TIME EITHER )

CHECK IT IF OUR FUTURE CANDIDATE BREAKS THE LAW,
WHAT CAN WE EXPECT OF THE REST OF THE COUNTRY ???

http://www.cnn.com/video/#/video/politics/2008/06/21/obama.mccain.reality.checks.cnn

Posted by: BARRY08 | June 22, 2008 7:56 PM

IMPORTANT YOU ALL WATCH THIS VIDEO BECAUSE IT TELLS YOU FLAT OUT THE TRUTH ABOUT WHAT MCCAIN ( MR. MAGOOO ) IS ABOUT

HE BROKE THE LAW ( NOT FIRST TIME EITHER )

CHECK IT IF OUR FUTURE CANDIDATE BREAKS THE LAW,
WHAT CAN WE EXPECT OF THE REST OF THE COUNTRY ???

http://www.cnn.com/video/#/video/politics/2008/06/21/obama.mccain.reality.checks.cnn

Posted by: BARRY08 | June 22, 2008 7:56 PM

Since world banking and the oil cartel was mentioned by a few people here, I would suggest that you do a youtube search on the so-called "petro dollar". Quite a few people here will dismiss it as some kind of crazy conspiracy theory. Personally, I prefer to obtain as much info as I can on a subject before drawing any conclusions. I advise you to do the same.

Not everything not mentioned by mainstream media is a conspiracy theory. I was just watching Lou Dobbs on CNN and there was this persistent Exxon mobile advert every time in the break (about how great they are with the environment etc). Am I seriously expected to believe that Dobbs or anyone else on the mainstream media will bite the hand that feeds him??

Posted by: MrP | June 22, 2008 7:56 PM

From Chicago Counter Currents paper. Written by Pringle

About "Board Games" an OBAMA issue referenced on page 2 of the 19 pages in pringle's article for which there is a link below. If it does not work type in http://www.countercurrents.org/pringle150508.htm.

The article in Counter Currents focuses "on the corruption of two IL boards. the panel that approves investments from the 40billion pension fund for Teachers Retirement System and the Health Facilities Planning board which approves all medical facility construction projects in IL." It is worth reading because it is not the only problem.


http://www.countercurrents.org/pringle150508.htm

Posted by: Gramma62 | June 22, 2008 7:56 PM

I would propose that two of the biggest drivers in rising US oil costs are the fact that we enjoyed unfathomably affordable oil for so many years (ask Europe) and, more notably, the fact that we as a country have effectively done very little to lower the amount of oil we consume (despite the new "green" EVERYTHING).

The members of dreaded "big oil" are, for better and for worse, private companies looking to maximize profits at all times. Why is the conception largely that these companies have a duty to charge less than the market will support? Why also is the conception that our government has a duty to subsidize our preposterously high appetite for this particular commodity?

It does seem that the people who need to really affect this change (working in Detroit in some cases) are finally starting to address this, by way of GM's SUV production suspension than the industry wide green movement. Suspending SUV production is brilliant, and a long time coming. If they don't sell them, we can't buy them...simple as that. This is excellent, and we'd be lucky to see more companies follow suit, at least in some part. The trickle-down effect would be immeasurable.

At least thats my (overly simplified) take.

Posted by: Anonymous | June 22, 2008 7:55 PM

Obama will do great things. He will win the Presidency and undo what was put in place the last 8 years.
http://youngdemocratsforchange.com

Posted by: Suzanne | June 22, 2008 7:53 PM

http://72.14.205.104/search?q=cache:JmDh8qe3B7EJ:hsgac.senate.gov/_files/SenatePrint10965MarketSpecReportFINAL.pdf+oil+market+speculation&hl=en&ct=clnk&cd=2&gl=us

Should we add plagiarism to Obama's list of detractions?

Not sure if he's touting his plan as his own, but it wouldn't suprise me if he does.

Posted by: PAO | June 22, 2008 7:40 PM

What about oil trading in the rest of the world? If they clamp down on NY, what about London?

Maybe they should focus on the criminal Federal Reserve. Stop printing money and raise interest rates: the quickest path to lower oil prices.

Posted by: John | June 22, 2008 7:35 PM

I wonder when Michelle Shaniqua Obama's "whitey" tape will surface. I think the Republicans will release it in October. It would not make sense to release it now. I know the Obama people dimiss it as a hoax but that is what they want you to beleive.

Michelle Shaniqua Obama is a race baiter. Did you hear her speach in NC? SHe kept saying throughout her speech that "they" are trying to raise the bar. "They" are keep moving the goal post. "They" don't want to see you succeed. ("They" = "Whitey") Everytime she would say these lines you would hear the audience reply, "uh huh, that's right", "amen", "i heard that (obviously a black audience).

Posted by: Dianne72 | June 22, 2008 7:35 PM

Obama is actually far to lenient. I live in France and see much news NEVER published in America. French reports on the oil crisis say this. There is no shortage of oil. Each year for the last 20 years, more oil has been discovered than has been used worldwide. This includes a "never mentioned in America" VAST new field of high quality, "sweet" oil off the coast of South America. The French also report that, the refineries (owned by the oil companies) have augmented the price they charge for refining oil (to themselves!) by up to 400%. Speculation is the blamed for another 40% of the current cost rise. Hedge funds are the major speculators.

The World Banking Cartel owns the majority of the money invested in the Hedge Funds. Thus their implication in the fierce resistance to a windfall profits tax for instance, or even being sent to jail for financial treason against their own individual countries......which is exactly what they merit.

Lets put Colin Powell in charge of a special military unit to arrest the major members of all the banking families in America, the major stockholders of all the big Hedge Funds (the "new" Billionaires) and send them all to Guantanamo. Then teams of accountants led by the FBI would raid all the Federal Reserve banks and open their records to the world. The crimes revealed in those records would allow us to "forever forget" a certain number of those held in Guantanamo, (as in, "leave them there to rot") and of course confiscate their properties and businesses, for the benefit of the Social Security System, for instance.

Once in the Feds records, we can then "do a Lincoln" on them and take away their right to print and distribute the America Dollar. The Treasury would then take over this task, and all the Feds would be closed. Frightened Senators and Congressmen could then be coerced into writing a new amendment into the Constitution forever guarding this right for the government of the USA only, thus freezing the Private World Banking Cartel out of our money supply and taking away from them FOREVER, their right to rob us blind.
In the interim, if you wish to know why all this makes perfect sense, see the internet film, "The Money Masters" on Google. If you haven't time, read "What Caused the American Housing Collapse" in their FAQ's. Bonne chance!

Posted by: victor compton | June 22, 2008 7:30 PM

Rampant speculation can only work in a commodity where there is perceived scarcity. While the speculation in those conditions is harmful, a more fundamental solution is to increase supply so that the scarcity, real or imagined, gets undercut.

Obama's claim that we cannot drill our way out of this crisis may or may not be true but putting forward a policy that does not increase domestic exploitation of our petroleum resources certainly exacerbates the perception of scarcity for many years.

Posted by: Ed | June 22, 2008 7:29 PM

Dear "Worthless Comment",

Guess what? The name "Barry" is what he went by during school. Good luck on worthless comment comentary. They are truly worthless.

Posted by: Nadeem Zakaria | June 22, 2008 7:27 PM

Obama's mother's original Social Security Number Application

http://webofdeception.com/obamamother'sssapplication.html

Posted by: Robert Lewis | June 22, 2008 7:18 PM

Obama is a smooth talker. He's got America in bed on a first date.

Posted by: Rico Suave | June 22, 2008 7:17 PM

Oh Good God how did the village idiotic
Democrats ever come up with an arrogant phony smirking lying empty suit cocaine snorter loser like Barack Hussein Obama as
their Black Clone of George W Bush anyhow?
So didn't Barack Hussein Obama vote for his
relative Vice President Draft Dodger Cheney
Energy Bill as well? The Obamafools need to
sober up after they drank all that Obama Kool Aid and Realize what a loser Obama and
his goofy wife Michelle Obama both are.
I will never vote for Obama and I sure do
not want Michelle Obama as First Lady. So
please just say No to Obama! NOBAMA!

Posted by: sherry kay 2004 | June 22, 2008 7:16 PM

Obama gets the upper hand on gas prices because all voters see in McCain and the GOP is a party and a president who did nothing (same as Dems) for 7+ years.

http://www.political-buzz.com/

Posted by: matt | June 22, 2008 7:15 PM

Real world conversation flow
A Talks to --> B responds + adds to--> A responds + adds to--> B...= new information exchanged and analyzed.

Internet world conversation flow
A Talks to the void-->
B Talks to the void-->
A comments on--> B's comment to void
B insults A
A hates B
B hates A
No new informaiton exchanged, nothing analyzed. Void obliterates comments and remains empty.

Posted by: Worthless Comment | June 22, 2008 7:10 PM

Nobody likes a smart ass.

Posted by: Jeff | June 22, 2008 7:08 PM

So Barack Obama's solution to everything is increased regulation. Now he wants to increase regulation of oil companies. How will that ease the economic burden on his despised working class?

His health care reform plan is also built on increased regulation - which will increase costs for the insuranace companies and price millions more Americans out of health insurance.

The bottom line is all the "change" that Barack Obama is promising will only hurt the middle class American citizen.

I will not vote for Obama. Obama is George Bush's black twin. I was smart enough to not vote for George Bush and I am smart enough to not vote for Obama. Too bad the rest of America....

Posted by: McCain Woman Democrat | June 22, 2008 7:07 PM

re: Susan
"If McCain had already supported closing this loophole, why hasn't he been talking about it, rather than the stupid gas tax holiday gimmick?"
-
Because McCain's senior economic advisor, Phil Gramm is the one who made the loophole n the first place.
-
Just google: "Phil Gramm Enron Loophole"

Posted by: GreyFlcn | June 22, 2008 7:07 PM

So Obama's plan doesn't even mention supply when the ENTIRE WORLD is begging the Saudi's to increase production, which they agreed to. Intersting.

Equally as instersting, I don't really see the ENTIRE WORLD begging oil market insiders to regulate speculation.

Can someone please let Obama know what "good judgement" actually means?

Posted by: PAO | June 22, 2008 7:03 PM

To Mike M... I don't think that is the level of talk we want in this forum.. same way that nobody should attack Michelle in the looks department. We should concentrate on issues e.g. Obama tried to have an earmark for Michelle.

Posted by: CP Cook | June 22, 2008 7:02 PM

The only people that should be voting for McCANT is business men and bankers. Male. McCain even voted against equal pay for women.

Posted by: Mike M | June 22, 2008 7:00 PM

Racial Slur Count:
1. "little Chimp" posted by "Saint" in reference to Obama
2."Barry Hussein" posted by "Nadeem Zakaria" in reference to Obama. Note: Though not technically a racial slur I felt that this worthless comment deserved notation for its brazen implications and intent to invoke hatred based on US-Islamo fears as well as the name "Barry" also intended as deameaning.
3. "Its funny when you saw obama with the fake presidential seal.Typicale of a black man.Customize every thing.Buy a car changes the rims.Try to be president and change the presidential seal.What next change the name fo the White Houst to Black HousE?." Posted by "David not a white guy," in reference to Obama.
4. "The white people in this message board who will only vote because they watch FOX News, NASCAR, and Bill O'Reilly...enjoy your Klan meetings and may Nascar burn to the ground" Posted by "Mark the not so racist guy." Note: We here at Worthless Message have come to a stalemate on this comment and have thus decided to let the readers and writers of worthless comments decide: Is this an attack on white people? Or is it merely a frustraited person lashing out against the lengthy racist arguments below? Maybe both?

Here's to quality public debate! Fight onward Comment Soldiers, your cause is noble.

Posted by: Worthless Comment | June 22, 2008 6:58 PM

All of us can blog until our fingers catch fire, as have Senator Obama, in the race to become president. Guess what people, we can all blog 24/7, but what's already in the egg is going to hatch, and there's nothing any of us can do to change it, by blogging, except release some inner emotions. Get over it, accept it, and if you relax long enough, you'll enjoy it. It's inevitable; It's Obama. He's in the egg, and He's coming out, President.

Posted by: Dead-eye | June 22, 2008 6:55 PM

The comments on this site are almost uniformly of zero value. I realize that the Post isn't rolling in extra cash and is cognizant of free speech concerns, but couldn't it employ a person or two to go through and delete posts that are completely off-topic, add nothing to the conversation or are wholly duplicative?

Posted by: ISO a Good Moderator | June 22, 2008 6:53 PM

I don't think so Kevin. Their not putting up the full amount of money for that oil. What do you think would happen if a hundred trucks pulled up and said here's your oil.

Posted by: Mike M | June 22, 2008 6:50 PM

To bfjackjernigan... Any proof that Obama is not on the take? It seems to me that Obama benefitted more from oil companies than McCain.

Posted by: CP Cook | June 22, 2008 6:48 PM

I salute Pres. Jimmy Carter for his straight talk in 1980 that we be not dependent on Foreign oil. As a practical man he started energy plan from the white house. Ron Regan and Republicans rediculed him. Now the results are very clear, Are Repulicans are really patriotic? I doubt it. They are the big business who get rich on the back of average American and at election time come up with peripheral issues to take attention of people away from real problems. Due to national debt any President will have a hell of time doing anything worthwhile

Posted by: Rachhpal S Kukreja | June 22, 2008 6:48 PM

If McCain had already supported closing this loophole, why hasn't he been talking about it, rather than the stupid gas tax holiday gimmick?

Typical GOP. They don't think we listen, or don't want us to pay attention. Obama is going to win in a landslide.

Posted by: Susan | June 22, 2008 6:48 PM

Cindy McCain, First lady of the liquor house.

Posted by: Mike M | June 22, 2008 6:44 PM

The speculation is occurring because there is a real concern that Bush may launch a preemptive strike against Iran and that strike could shut down all the oil coming from the Middle East.

Funny how people, especially politicians, seem to forget that for every buyer there is a seller. For every speculator, there is a risk aversive business that needs to lock in exactly what a particular commodity will cost at some point in the future.

Posted by: KEVIN SCHMIDT | June 22, 2008 6:42 PM

To bad the media's not doing their job. I'm sure the American people would love to know about HR6049.

Posted by: Mike M | June 22, 2008 6:40 PM

Oh and I'd like to see Cindy McCains tax returns, just because..

Posted by: European_Elitist | June 22, 2008 6:39 PM

Obama is detached from reality , and that is very dangerous , especially when hyped with flip flopping and spin

Posted by: michel1835 | June 22, 2008 6:36 PM

I read about those no bid contracts today. They tried to put it off as help to the Iraqi government. When they were hit with question about the possibility of making large sums of money down the road they had no where to go. Taxpayers paid the way to make them rich and I want my money back.

Posted by: Michael M | June 22, 2008 6:35 PM

And who profited from the Enron Loophole? McCain's economic adviser Gramm. See:

http://tpzoo.wordpress.com/2008/06/22/john-mccains-banker-problem/

Posted by: European_Elitist | June 22, 2008 6:35 PM

What is really sad is the radical positions taken on both sides, "McCain is better"....."No Obama is better...". When in fact we have no one to blame but ourselves, WE VOTED THEM IN OFFICE AND WE STAND BY WHEN THEY TAKE AWAY FREEDOMS EVERYDAY.

We have become a nation of polar opposites and all we want to do blame the other side for our lot in life. We do not need bigger government and the "Robin Hood mentality" of give to the poor and take from the rich. Our tax system was created to provide the basics in war time and look what it has grown into!


"Institutions (taxation, ever lingering racial divides, media(print and video) and lawyers) have grown into behemoths that serve only a few in power but most important it has kept us from moving forward as a one nation of many people that get along.

Think about it all that we here today is one person or one body's recount of the facts, if we all (democrat, republican, and others ) took a moment and learn how to filter the information(by listening patiently to ones another we might find the truth not someone's version.

This is our country and we should be proud of it and each other and not made to feel bad about our success.

Find the middle ground EVERYONE ,,,exploring for oil here is about saying to the world that will stand on our two feet! That does not mean we cannot be great stewards of our pristine wilderness and all the while finding our own ways to conserve our natural resources. We have become a nation so afraid of finding middle ground with each other. Government cannot solve our problems, only we can.

Take the best each side has to offer and implement them in a rational approach. Stop blaming others and find the good!.

As far as those above in this blog who repeatedly like to throw GW Bush, J McCain and Obama under the bus because you do not agree with them, why don' t you focus your hatred on the real governing body, congress. They are the ones who have got us in this mess and as far as know GW Bush was never in Congress. GW Bush has made many mistakes and as a Republican I disagree greatly on many points, but he is not the only one to blame, Congress is to blame as well as ourselves because we sat by and let it happen.

If oil is drilled here and refined here while at the same time new technologies for conservation are created, develped and built here so as to "wean ourselves" of oil we could be strong again.

To close, get along with those on the other side of the political court and find common ground and the new party... Republicrat and or Demopublican ( a little closing humor) could be the next party name that represents those of us few that recognize the strong points of both side of the political court.

Think about it.

Posted by: JM | June 22, 2008 6:34 PM

AP "journalist" Liz Sidoti, who recently wrote a hit piece on Obama, is in John McCain's pocket. She even knows his favorite doughnuts, and just how he likes his coffee:

http://www.youtube.com/watch?v=wB7EDnW-yns

Posted by: Talk about press bias | June 22, 2008 6:32 PM

Obama's so called four point energy plan is no plan at all. I wonder if he called Robert Mugabe in Zimbabwe for advice.

Mugabe may have shared his method for avoiding actual policy change. Mugabe must have said "when you have no plan but the opposition is winning the hearts and minds of the people accuse someone."

In the case of Mugabe he always accuses the former colonialists for all his failed policies.

Now Obama has decided instead of offering an energy plan that actually produces energy that he can change the topic until he gets elected by accusing "speculators" who have been exploiting "the Enron like loophole."

I would laugh if I wasn't crying every time I fill the tank of my Saturn.

Posted by: Mike from Reno | June 22, 2008 6:31 PM

Where is the press with McSame's economic dumbness and pandercracy to the oil companies and the elite superich one percent? His dishonest acceptance of public funds for the primary and his ditching of it once he raised more, using the public funds as collateral for a bank loan? McSame has no high moral ground to occupy. On Obama's use of "sweetie," track McSame's use of "C**T" for his wife. On Michelle as first lady, track Cindy's adulterous break-up of McSame's first marriage, her recorded drug addiction and thefts of drugs, her shares in Somalian stocks, her company (of which she is chief shareholder) lobbying against Mothers Against Drunk Driving and for more teenage drinking. On Obama's flip-flop, McSame's flipflops on immigration, taxes for the super-rich, off-shore drilling, and more. On Obama's leadership record, McSame's terrifying temper and absence of anger-management, his singing on bombing Iran and promise of a hundred years more in Iraq. Yes, vote for McSame if you want our beloved country to be in the hands of a palsied seventy-year-old failed warrior already showing symptoms of dementia.

Posted by: Anonymous | June 22, 2008 6:31 PM

While we are talking about straight talk,something McCain is lacking of late,lets talk about the bill,HR6049,Renewable Energy and job creation act of 08.
This bill extends the tax credit for 8 years for solar panels,among other items.
Why has the republican party stopped this from going thru for over a year,and yes,John McCain has voted against this 6 times so far,something that would help us to independence.
Straight talk,I don't think so John McCain,,,

Posted by: Lance Newell | June 22, 2008 6:28 PM

Beibg that Barack Obama is an unknown quantity, I can understand the apprehension of some folks; however, we already KNOW what too expect, from a Third Bush Term!!! ~ It will be more of the SAME!!! ~ Folks, we really do need some real change in Aamerica!!! ~ NO WAY, would I vote for another Bush Term; neither should the rest of America!!!

Posted by: Arbuckle Doc | June 22, 2008 6:27 PM

McCain always fires back with 100% lies and the media prints it. How does he get away with this. The media bashed Hillary and Obama till their lights went out, but McCain is getting a free pass. You Tube has him dancing around on stage singing Bomb Bomb Bomb Bomb Bomb Iran. Take a good look at what your next president's going to be like. Total moron.

Posted by: Mike M | June 22, 2008 6:25 PM

Reading these comments reminds that the internet has done everything but increase communication and facilitate public discourse on complext topics. Our culture has become the awful tabloid news program we all claim to hate so much. Let's just give it up and start talking about Britney Spears again.

Posted by: Worthless Comments | June 22, 2008 6:23 PM

why does race still matter? let it go, eh?

Posted by: dave | June 22, 2008 6:22 PM

Oil Should Not Be On The Futures Market At All The Price Is Allready Set By OPEC!
Not Like Corn And Other Food That Depends On The Weather. And Is Variable . And If You Like The Rich Getting Even Richer Then Vote For Mc Cane. corprate greed is what's gonna ruin this country not whoever gets elected!
Also i feel that you can only "Squeez" the poor so much before you get a reaction just look at the food riots in other countrys! i know that subjuct gets little press coverage Just remember the press (TV And papers) Are owned buy the richest people in the world! and only tell You (us) what they want!

Posted by: CE.Davis | June 22, 2008 6:22 PM

Did anyone give a thought to the fact that the oil industry, aided and abetted by this administration in countless ways such as no bid Iraqi Oil Ministry contracts, is engaged in plain criminal extortion? It's simply corporate goons beating you up at the pump as the cop on the take looks the other way. "Give us what we want or it'll be worse next time". Sure enough, the beating is worse the next time and each time after that.

John McCain wants to be the next "Chief of International and Domestic Police" as it were and his campaign has been greased by the oil industry. He's as much on the take as GWB and the rest of their party of greedy miscreants, thieves and liars who are selling us out one service member, job, brick and barrel at a time.

Obama isn't on the take and is formulating some solid solutions that, unlike McCain, don't include capitulating to the oil industry and its benefactors.

If anyone qualified for prosecution under the RICO statutes it's the oil industry and their co-conspirators.

Posted by: bfjackjernigan | June 22, 2008 6:20 PM

The white people in this message board who will only vote because they watch FOX News, NASCAR, and Bill O'Reilly because they like to listen to anti-White American things is the worst thing for this country. I don't consider people who voted for Bush twice a citizen anymore. I don't think they should have a right to vote anymore. I love Obama and I think he is the one person who can save this country because he isn't the old man who sides with George Bush and his politics. McCain in 2000 would have been great, but I don't think that he will make a good president when it's his kind of thinking that we should be doing away with. I'm proud to be an Obama supporter and am sick and tired of the stuff that people read about and only try to scare Obama supporters out of his campaign. Enjoy your Klan meetings and may NASCAR burn to the ground.

Posted by: Mark The Not So Racist White Guy | June 22, 2008 6:15 PM

In regards to the Nixon comments. Nixon did much that was good for this country and the world. He opened China and established detente with the USSR. Yes he was a criminal and it may appear that he was pshcotic in the end. But please do not compare him to Bush. Bush has done so much to aid and abete terroism. Nothing Bush has done will be looked back on as good for the country or world. Shall we go beyond worl events and talk about the DOW during his 8 years. Lower than when he started.An McBush is running again.

Posted by: RussM | June 22, 2008 6:14 PM

They're now saying that offshore oil would take 22+ years to hit the market. Obama and his uhh 'socialist' evil plan will remove tax breaks to the rich and gluttonous oil co's and put the money toward renewables and most likely nuclear. So, while the loophole is interesting, 20 years down the line the real way to affordable (and clean) energy will require Democratic policies imho.

Posted by: Jim | June 22, 2008 6:13 PM

Yeah Martin that's a good way to fight back. I'm in between jobs and was going to buy a tractor to haul freight. When you see protests all over the world going crazy, I decided to hit the couch for a while. I know this is one of Bush's little games, and I hope Obama gets to pay those oil companies back.

Posted by: Mike M | June 22, 2008 6:11 PM

(my sig was left off...I really want to take credit)

Posted by: Yoschoharo
"Obama is very good at pulling the boogy man (ENRON) out of the hat when HE needs it to shore up his smoke and mirrors economic policies.
How about some straight talk?
Or does he only speak with forked tongue?"
-------------------------------
I think we get your point Yoschoharo. A vote for John McCain is a vote to keep the Enron loophole intact. But...hey...does not your hero support this too? But of course, only for the most honorable reasons.

Because, we hear ya, only Democrats make policy decisions for deceitful reasons.

By the way, as to the war hero's advice on Iraq. He also said we would be greeted as liberators, and back in 2003 predicted troops would be home shortly.

Yeah, I love trusting our foreign policy to men with that sort of track record.

Bush 3....that should be your campaign slogan.

Posted by: Scootmandubious | June 22, 2008 6:11 PM

Talk about politics of FEAR!
Posted by: Yoschoharo
"Obama is very good at pulling the boogy man (ENRON) out of the hat when HE needs it to shore up his smoke and mirrors economic policies.
How about some straight talk?
Or does he only speak with forked tongue?"
-------------------------------
I think we get your point Yoschoharo. A vote for John McCain is a vote to keep the Enron loophole intact. But...hey...does not your hero support this too? But of course, only for the most honorable reasons.

Because, we hear ya, only Democrats make policy decisions for deceitful reasons.

By the way, as to the war hero's advice on Iraq. He also said we would be greeted as liberators, and back in 2003 predicted troops would be home shortly.

Yeah, I love trusting our foreign policy to men with that sort of track record.

Bush 3....that should be your campaign slogan.

Posted by: Anonymous | June 22, 2008 6:10 PM

boy howdie doodie,I never read more know it all experts in all my life,you folks got it all figured out,with this new fangled google a key word and become an expert in 15 minutes on wik-pedia. Well my gosh I guess you missed the latest news that Saudi Arabia is going to increase thier production and offset demand with supply.Well it appears that parking your car sent them a message,that message is we aren't going to drive our cars cause we can't afford to. And the leaders are reeling from the lack of tax revenue and production declines and consumer spending and increase jobless and car loans and small business loans going in default,these greedy people done shot themselves in the foot and they are losing money bigtime quick.Quicker that the oil comapanies are making it. Want to drive down the price of gas? Stop driving your car unless you absolutley got to.
Now you got your part play the roll stop driving enjoy the act,it aint hypocrisy and it aint pretending just park the damned car.

Posted by: martin a white guy | June 22, 2008 6:06 PM

Wow, an article that talks about McCain's supposed support for the closure of the Enron loophole neglects to mention that the person who placed the loophole there in the first place, former Texas Senator Phil Gramm, is his economic advisor.

I would call that neglecting to tell the whole truth. I've taken to calling your paper the washingpost (try it, washingpost.com does come here) because you whitewash all the terrible ideas that have emanated from McCain's advisors over the years.

Posted by: Frank Booth | June 22, 2008 6:05 PM

and there is no bloody way in hell I'm voting for a man that won't put hi hand over his heart during the national anthem.
And i'm not voting for a man that puts a flage of a communist in his campaign office,and I'm not voting for a man who listens to black loiberation theology and claims it is christina when in fact it ihas its roots in communism coming out of south america by marxist revolutionaries who he pledges alegiance to. Hell no to Obama hell no.

Posted by: martin a white guy | June 22, 2008 6:05 PM

david not a white guy, im not sure what you mean by "yahoo", but you miss-spelled a great deal of your comment (hint: you "DESTROYED" the English Vocabulary)

oh and by the way, "THEY" may have their rims, but "YOU PEOPLE" have your moronic mudflaps.

now that i've let out steam in regards to that bigoted baboon; lets be realistic: setting aside who thought of what first (in regards to the comment by mccain saying obama is rallying behind "his" idea so hes "copying"), this seems not to dissimilar to a child crying because "billy solved the math problem but i solved it first in my head so HES CHEATING!"

...really mccain? really?

a right idea is a RIGHT IDEA

no implication of ownership necessary nor warrented

Posted by: smognine | June 22, 2008 6:04 PM

Obama = the ruin of the USA, the start of the United Socialist States... a vote for him is a vote for the end of this country...
---------

Thanks Dan, I'm sure this is the best you could do.

Posted by: Nick Danger | June 22, 2008 6:03 PM

Republican Policy = Abject Failure

McCain's simply lying. Graham and his wife wrote the amendment that expanded the original Enron exemption, it's a matter of record. If McCain's against it NOW, it's another FLIP-FLOP ... up to a dozen now, or more?

LAME.

Posted by: seeingeyeseesall | June 22, 2008 6:02 PM

Talk about politics of FEAR!
Obama is very good at pulling the boogy man (ENRON) out of the hat when HE needs it to shore up his smoke and mirrors economic policies.
How about some straight talk?
Or does he only speak with forked tongue?

Posted by: Yoschoharo | June 22, 2008 6:01 PM

I follow the stock market every day and when the people from washington had a talk with these big shot oil barrons they said they were worried about Bush's tax cuts getting clipped. Oil consumption has been going down since the beginning of the year but they always find a way to not count some barrels to make it look like were using more. The same thing goes for gas, they just slow down refining it when we use less to make it look like we are using more. You can bet your life there's more than 75 years worth of oil and that may be on the low side.

Posted by: Mike M | June 22, 2008 6:00 PM

boy howdie doodie,I never read more know it all experts in all my life,you folks got it all figured out,with this new fangled google a key word and become an expert in 15 minutes on wik-pedia. Well my gosh I guess you missed the latest news that Saudi Arabia is going to increase thier production and offset demand with supply.Well it appears that parking your car sent them a message,that message is we aren't going to drive our cars cause we can't afford to. And the leaders are reeling from the lack of tax revenue and production declines and consumer spending and increase jobless and car loans and small business loans going in default,these greedy people done shot themselves in the foot and they are losing money bigtime quick.Quicker that the oil comapanies are making it. Want to drive down the price of gas? Stop driving your car unless you absolutley got to.
Now you got your part play the roll stop driving enjoy the act,it aint hypocrisy and it aint pretending just park the damned car.

Posted by: martin a white guy | June 22, 2008 6:00 PM


Sen. Obama is on the right path, and McCain wants to continue fooling the American public. The American public, Joe Average, doesn't even know about the Commodity Futures Modernization Act, co-sponsored by retired Sen. Phil Gramm, which has led us to this "oil speculation" problem. His wife, Dr. Wendy Gramm, chaired the federal Commodity Futures Trading Commission and then sat on Enron's Board of Directors.


http://www.villagevoice.com/news/0203,ridgeway,31534,6.html

Posted by: 360coach | June 22, 2008 6:00 PM

Posted by Dan:
"Obama = the ruin of the USA, the start of the United Socialist States... a vote for him is a vote for the end of this country..."
-----------------------------
GOP talking point #424, brought to you by Dan, who took about 5 seconds to replicate what Karl Rove asked him to write on the boards.

Posted by: Scootmandubious | June 22, 2008 5:58 PM

Posted by: Jerry L

"Way to unite the party, Obamathugs. I wouldn't vote for him under ANY circumstances. But I live in a blue state so it won't matter. God help this country."
----------------------------
Has anybody noticed that opponents of Obama are pretty much incapable of civil discourse.

Witness the above name-calling (Obamathugs) and the GOP fear campaign (God help this country)

Maybe you folks can show some brain cells and demonstrate policy differences that you don't agree with.

Cmon, help raise the bar so we don't think that y'all are really all that shallow and ignorant.

Posted by: Scootmandubious | June 22, 2008 5:55 PM

Obama = the ruin of the USA, the start of the United Socialist States... a vote for him is a vote for the end of this country...

Posted by: Dan | June 22, 2008 5:55 PM

I have to agree with the question about whether John McCain had the idea first or not. That really would have been valuable information, but why should we expect unbiased, comprehensive reporting from a reporter.

I'm really not worried about it though. Obama opted out of public funding so he could use his money to target certain cable TV channels like MTV for the young voter and BET for the minority voter (not my words, words directly from the campaign). It should concern most of upper and middle class America that neither of these channels represent the vast majority of taxpayers, who are the backbone of this country. Notice he isn't going to advertise on CMT. This is because deep down inside Obama couldn't care a less about me or my family. I am not a liberal, poor or black, which to him seems to be the only 3 classes of people who count. GOD help you if you are wealthy or upper middle class...you are scum of the earth, don't pay your way and should be taxed until you bleed. Something to think about folks.

Posted by: Sandy Davis | June 22, 2008 5:54 PM

Do you really think BUSH is worse than Jimmy Carter????
Posted by: CLEGG
------------------------------

Just because somebody is slandered by the GOP doesn't make them bad or incompetent.

Somehow, I don't see George Bush devoting his life to helping the poor, or getting a Nobel Peace prize. Jimmy Carter has much to be proud of.

So, yeah, Bush is the worst...even worse than Nixon, and that is saying a lot.

Posted by: Scootmandubious | June 22, 2008 5:51 PM

Way to unite the party, Obamathugs. I wouldn't vote for him under ANY circumstances. But I live in a blue state so it won't matter. God help this country.

Posted by: Jerry L. | June 22, 2008 5:50 PM

Anyone that thinks that the oil prices have risen this much on supply and demand issues is missing time.
The USA has has decreased its demand about as much as China has increased its demand.
Obama is right on again and this shows that he is consulting with brilliant people that will help make a difference to free Washington of special interests.
McCain is just business as usual.

Posted by: costaricanet | June 22, 2008 5:49 PM

The reality is that McCain hasn't been working too hard to close this loophole, since his chief economic advisor, Phil Gramm, is the one who helped sneak the Enron loophole into another bill.

http://www.msnbc.msn.com/id/21134540/vp/25252591#25252591

Posted by: Know the facts | June 22, 2008 5:48 PM

The Enron Loophole http://en.wikipedia.org/wiki/Enron_Loophole#The_.22Enron_Loophole.22 was created by Enron Lobbyists with the help of Wendy Lee Graham and her husband Phil Graham. No small wonder since Wendy Lee Graham sat on the board of Enron. It is also not surprising that John McCain is now doing everything in his power to keep the Loophole in effect http://www.baltimorechronicle.com/2008/051908Leopold.shtml considering that Phil Graham is his advisor on economics. It is really disappointing that Ms. Kornblut fails to mention those pertinent facts in her article.

As for those of you who doubt the market is being manipulated by use of that device, take it from someone who lives in California and who witnessed first hand the Enron Loophole in action. This Nation is being robbed blind by unregulated energy traders aided and abetted by Phil Graham and John McCain.

Posted by: J Bryan | June 22, 2008 5:47 PM

It's too bad that we have to be subjected to racist rants on here. Any moderators around??

It does make McCain supporters look bad, so you think one of them might actually state that it is inappropriate.

But I guess if the shoe fits...

Posted by: Scootmandubious | June 22, 2008 5:46 PM

If you remember this during the primary...
Chelsea works for a hedge fund company owned by one of the big donors. Now you wonder why Bill Clinton left some loophole after Enron. I guess that is why he made a few good friends in commodity trading by these hedge funds.

Commodity Trading === Hedge funds

who made big money on oil each summer as far as I can remember. Gas price will jump as summer begins each year and drops after Labor Day. Although $5/gallon is good for the environment, this is one reason why more people got poor while selected few got filthy rich.

I wonder if Obama knows the connection between speculators and hedge funds.

Posted by: Anonymous | June 22, 2008 5:45 PM

These comments are typical of what we need to change. Everyone's quick to call names or assign labels. Let's focus on the problem.

The problem isn't too much speculation, its speculation that is unregulated because of the Enron loophole that was (sorry to say, democrats) signed into law by Bill Clinton. However, it was part of a large appropriations bill that republican Phil Gramm (whose wife was on the Commodities Trading Board and later on the Enron board of directors) slipped into the bill at the last minute without any floor debate. BTW, Gramm is now one of McCain's key economic advisors.

The Enron Loophole, created an exemption for on-line energy trading and has been identified as the single biggest cause (25-50%) of the recent run up in prices. Its the same loophole that allowed Enron to manipulate energy prices in California and its now being used by large banks and investment firms to hoard oil which is worth more in the ground than the declining U.S. dollars it trades for.

The really big problem is that if it isn't fixed, the same loophole will have the same effect on any other source of power that we try to bring forth to replace oil including solar, wind, nuclear, etc.

If either candidate will help close this loophole and restore oversight and true free trade to the oil markets, the effect will be significant and immediate. If you really want to learn more, do a little research on the Enron Loophole and you'll see for yourself why we need to get this fixed now.

Posted by: austin obamafan | June 22, 2008 5:44 PM

Here you go Mr. Tucker Bounds - perhaps you should really know what your boss does.
http://www.baltimorechronicle.com/2008/051908Leopold.shtml

Posted by: Margaret | June 22, 2008 5:44 PM

GARRY,

Do you really think BUSH is worse than Jimmy Carter????

Posted by: CLEGG | June 22, 2008 5:43 PM

I don't know about you guys but I DO NOT TRUST BUSH. He wants to drill away, why now? What ever he does it is a mistake or something to benefit the wealthy.
DO YOU TRUST BUSH????????????
Do you trust bush?????????
do you turst bush??????

Posted by: Jose | June 22, 2008 5:41 PM

Jim: Of course Soros is playing the market - thats what you do when your a mulit-billionaire - duh. So your going to critisize someone for making a profit unless they are an oil company?

Iraq was a fools errand - they were never a threat to the U.S. or our allies, in fact they were one country keeping Iran in check. So BushCo wastes half a trillion taking out someone that was an allie years ago - like the years that Cheney and Rumsfeld met directly with Saddam.

But all of that history doesnt mean anything if your a republican - we will just rewrite history to place the blame at the feet of the demoocrats and take no responsibility ourselves - Republicans the Teflon coated party.

Posted by: doesnt_suffer_fools | June 22, 2008 5:41 PM

Its funny when you saw obama with the fake presidential seal.Typicale of a black man.Customize every thing.Buy a car changes the rims.Try to be president and change the presidential seal.What next change the name fo the White Houst to Black HousE?.Hope people wake up and do the right thing and elect john mcCain and not let this yahoo distroy this great nation.

Posted by: david not a white guy | June 22, 2008 5:41 PM

Its funny when you saw obama with the fake presidential seal.Typicale of a black man.Customize every thing.Buy a car changes the rims.Try to be president and change the presidential seal.What next change the name fo the White Houst to Black HousE?.Hope people wake up and do the right thing and elect john mcCain and not let this yahoo distroy this great nation.

Posted by: david not a white guy | June 22, 2008 5:41 PM

Obama proposed a four-step program that would, among other things, close a so-called "Enron loophole" that protects some energy futures trading from oversight by the Commodity Futures Trading Commission, his advisers said if he were King of the world.

What about the other energy traders in other countries

Posted by: lloyd | June 22, 2008 5:38 PM

This article has it soooo wrong. Watch the video linked to here: http://www.msnbc.msn.com/id/3036677/.
You may have to scroll down to #3, "McCain, gas prices, and the Enron Loophole." If that doesn't get you there, then look on left side, click on "Previously" and it will be #3 on June 18th. It's well worth watching. Closing the Enron loophole would lower our gas prices immediately by 25%, if not 50%. And it has nothing to do with Mr. Clinton. It has to do with Enron, the first Bush, the Grahams (Phil and his wife) and McCain. So, I agree, let's have some more substantive and ACCURATE reporting. You'll find it here on this link at "Countdown with Keith Olbermann."

I truly feel sorry for those of you who are going to choose to vote for McCain; either you really haven't done your homework or you just are not paying attention to what amounts to real journalism, real facts. The more you find out the truth about John McCain, the more one should want to run to the hills or better yet to the voting booth and vote Obama.

I applaud Obama for at last finally leading the way to close the Enron loophole. McCain has just recently come around to this position when he realized it would become a campaign issue. Obama is a man of integrity and someone who comes along only once in a generation. Wake up, People! Please!

Posted by: Marirose | June 22, 2008 5:37 PM

Part of the reason why oil prices have gone up so much is the perceived lack of cushion in oil supplies. When OPEC is producing almost as much oil as they can and any additional oil produced would be heavy oil (more expensive for refineries to refine) the market is taking that to mean that if there is any additional crisis (hurricane, war, etc) the oil markets won't be able to be supplied. That is why there is all this speculation. Until spare production increases rapidly, prices will continue rising unless world demand stops rising which it isn't even at these prices. Bottom line is, we need to ween ourselves off oil.

Posted by: Oilman | June 22, 2008 5:35 PM

Well, Tucker, then how is it that McCain and his oil buddy Republicans haven't closed that loophole in the 16+ years it's been there? Huh?

McCain's pal Phil Gramm and his wife Wendy, sealed the deal on the Enron Loophole and the Repubs have thwarted every attempt by the Democrats to reverse it.

Egad, these Repubs are liars and frauds. This all started at the end of the first President Bush's regime.

Posted by: Margaret | June 22, 2008 5:35 PM

GWB created $130 oil - mission accomplished for his contributors. Anyone who thinks that BushCo isnt responsible for the current oil and gas prices is a ditto head that will not listen to logic and doesnt care anything about the U.S.

Posted by: doesnt_suffer_fools | June 22, 2008 5:34 PM

Soros(Made $2.9 billion in 2007) funded Moveon.org. MoveOn.org has generated more negative news about the US,encouraging news to the thug/barbarians to kill more US troops and in the process devalued the dollar around the world through the negative news.
Soros has been shorting the $ in currency trades and using devalued $ to buy oil futures. Please why are the MSM so afraid to connect these dots? If President Bush wanted to devalue the dollar, have his ratings be low, what person would want that? He never wanted that but knew if we didn't stop Saddam in Iraq, (remember President Bush never said Saddam was an "imminent threat".He said:"Some have said we must not act until the threat is imminent. Since when have terrorists and tyrants announced their intentions, politely putting us on notice before they strike? If this threat is permitted to fully and suddenly emerge, all actions, all words, and all recriminations would come too late. Trusting in the sanity and restraint of Saddam Hussein is not a strategy, and it is not an option." http://www.whitehouse.gov/news/releases/2003/01/20030128-19.html
So why has the MSM been so quick to blame Bush for all things bad and not one negative article about the $2.9 billion direct force behind more US deaths by his encouraegment of the thug/barbarians, George Soros? (See Harvard review for the "emboldenment" affect of news on the thug/barbarians.)

Posted by: jim | June 22, 2008 5:33 PM

I truly love all the newcomers to the question of energy. If you had all paid attention 20 years ago, you should have heard the message loud and clear. Instead you chose the SUV instead of the Honda CRX with it's 45 miles to the gallon. You killed the electric car. You didn't invest in alternative technologies.

You became a consumer economy based on cheap oil.

Well done.

Now that you are paying attention to what should have been at the center of attention I would propose that we use our collective monies toward our economic and national security.

Put it all on the table and talk about the next 10 to 20 years, not the quick fixes and political attacks that have enlivened the debate so far . .

Posted by: delantero | June 22, 2008 5:33 PM

global demand for oil is way up. the supply is not really an issue. anyone profiting from oil (opec or corporations) charges what the market will bear. more oil will not change the fact that despite hardships the market is bearing higher oil prices. drilling more oil or increasing output only means more 4 dollar gallons will be sold, not that the price will go down. drilling more places will make opec and the various oil profiteers more wealthy.

Posted by: number 5 | June 22, 2008 5:32 PM

There is so much misinformation. All of you should educate yourself. McCain is NOT for closing the loophole. 1) One of his principle advisors created it in the first place 2) He supports the "Energy Regulatory Modernization Act" which expands the Enron Loophole and makes it law 3) 65% of the oil price increase is due to speculation 4) The Enron loophole was expanded by Bush's administration to include oil in 2002, since then oil has climbed from $1.20 to $4.15. 5) Obama intentions are good from what I can tell. Educate yourself.

Posted by: Jim | June 22, 2008 5:30 PM

For all the talk on supply and demand where are the statistics. How much does demand outstrip supply and what is the change from last year when oil was less than half--that is right half, of today's prices. This kind of a jump in prices can not be fully explained by supply shortages. Obama is right to go after speculators. What does a investment fund have to do with oil or a pension for that matter. They should make anyone who hedges on oil take delivery on expiration and eliminate the margin trades on oil. That would drop the price--maybe not by half--but to its real price based on supply and demand.

Posted by: spencer | June 22, 2008 5:29 PM

In Congressional hearings last month mainstream economists testified that closing the Enron loophole would lower gas prices by at least $1 a gallon.

As far as the guy who gets "bad vibes" from Obama, just come out and say you don't like him because he's half-black and because Fox News suggests he's a Muslim terrorist. Please stop using code language.

And McCain, who flip-flopped by calling for offshore oil drilling, just lost Florida. Good luck winning this November without Florida.

Posted by: Barrett Toups, my real name | June 22, 2008 5:29 PM

Maybe its time for more bacon. VOTE MORE BACON in 2008

Posted by: Jason | June 22, 2008 5:28 PM

Y'all are a bunch of fools to have swallowed the supply and demand BS story. When OPEC announces that they have not changed anything and feel oil should be priced around $75 a barrell how can it be a lack of supply. Libya anounced yesterday a reduction in output due to a glut on the world oil market.

Where do you go with billions of dollars in real estate speculation profits? How about the commodities market?

Posted by: doesnt_suffer_fools | June 22, 2008 5:23 PM

....Today...John McCain is one day OLDER

Posted by: drivensnow | June 22, 2008 5:23 PM

This is typical for Barry Hussein. Very few details and nothing but grand gestures and hyperbole. Good luck with this one. I have a feeling he will be the "George W. Bush" of the Democratic party.

Posted by: Nadeem Zakaria | June 22, 2008 5:17 PM

I've already decided not to vote for Obama. He gives me bad vibes.

Posted by: Adam | June 22, 2008 5:17 PM

Question: If it is simply a supply and demand phenomenon, shouldn't we be looking at how much the wars in Afghanistan and Iraq have increased demand?

Posted by: Arthur | June 22, 2008 5:15 PM

Excuse me!!! How does this 'plan' produce any additional oil. Is Obama so far left that the rules of supply and demand can be ignored? The problem is a perceived equilibrium of demand for and the production of petroleum. Increase supply and walla down goes the price and out go the gamblers. We need to drill everywhere and develop coal to oil and coal to gas and also pursue the 'greens' agenda. The eco terrorists and the leftie loonies are what is in the way and they are financing Barry.

Posted by: charles higgins | June 22, 2008 5:05 PM

love the lack of specifics, see you all at the gas pump lines in feb 09.

Posted by: Dwight | June 22, 2008 5:03 PM

Barry Hussein throws 1 billion Muslims under the bus. Hold on America, it is going to be a bumpy ride.

Posted by: Nadeem Zakaria | June 22, 2008 4:54 PM

Oil is being driven upwards because supply and demand are too far off synch. Only 1 million barrels separates the two in an 86 million barrel a day business. Obama is therefore wrong to blame speculators. They have simply become the whipping boys. However, Obama is right that ANWR and off-shore drilling won't make much of a difference in price. The reason, first of all oil has to be expensive for companies to drill in these places, so you've already defeated your first purpose which was cheaper oil. Next, these reserves are at best, about 1% of world oil demand when they come on-line. That's simply too little, too late. Bottom line, it's going to take large scale conservation and alternative energy sources for oil to go down. Even $4 per gallon gas only drops USA gas demand by 1%. Therefore, look for oil to head higher, probably $200 a barrel before it will really start to fall.

Posted by: Joseph | June 22, 2008 4:48 PM

Senator Obama is right on target with his approach to ending the criminal and shameless manipulation of oil. OPEC has clearly demonstrated that it has nothing to do with supply. Saudi Arabia said they would increase production but others have indicated that this would flood an already amply supplied market, so they are going to cut back, for a zero sum net gain.

If you look at the figures, surpluses have not really dropped over the past 4 years, in many reporting periods they have gone up. The drop in the dollar has raised the price of oil, but the real problem is the recent deregulation that as allowed new players to buy up oil. So it is all about a loop hole and the exploiting of it regardless of how many people, corporations and countries are injured. For this reason Senator Obama is absolutely right to say we need to control the market that has essentially been hijacked.

As for idiot Bush saying we need to drill for more oil in pristine locations I will simply point out that the environment has never been responsibly managed by corporations. They will agree to anything to get what they want and then they will screw over everbody but those that can do them some good. Bush has basically taken the same approach with the American people. He gained their trust and then he screwed them over. There is not one indicie where I am better off than when he came to power, and I say it that way because he did not serve as President, he came to power and then he abused it for all it was worth. He is the worst example of American leadership to date, and I predict he will hold the record for more than the next century.

Posted by: Garry | June 22, 2008 4:48 PM

Ok, Anne Kornblutt -- how about doing some REAL reporting instead of acting as a steno operator for the campaigns? So Sen. Obama comes out with a four point plan and McCain claims he's only following. Is he? Is it true? Oh, sorry, that might take more than one phone call for mindless opposition quotes. For God's sake -- I'm an Obama supporter but I'd like to know the truth instead of dueling quotes. It seems highly unlikely to me, considering McCain's constant tacking to the right since 2004, but I don't know ... so START DOING YOUR JOBS!!!

Posted by: omyobama | June 22, 2008 4:47 PM

To Ed, McCain is against drilling in ANWR.
ANWR is totally separate from what McCain is supporting. The left always has to lie about McCain. ANWR is protected by an act of congress.

McCain is for having states in the contenental u.s be allowed to have states rights.

For example Jim Webb and Tim Kaine and Mark Warner are for opening up some areas to allow for natural gas.

The current ban is no drilling within 200 miles.

71 senators including many dems agreed to allowed drilling in the central gulf far away from florida. The current ban is 200 miles drilling would have been allowed right on the edge far from florida nowhere near the coast.

Posted by: Dan | June 22, 2008 4:40 PM

First, Tom Abrahams- Barack needs to be put in the Corner for impersonating someone of real significance.

The Junior Senator is trying to "Play" Commander in Chief.

The REAL Arrogance occurred when the little Chimp used his Prop with his collection of Clown Governors. That, was when he went way too far with his posing!

NOW, as far as the things he is doing, they are NOT Presidential Aspirations, they are Legislative maneuvers he should have been and should be doing as the Senator he is.

Like McCain has tried to do!

Watch "Barry" O'Flip-Floppa! ;~)

Posted by: SAINT---The | June 22, 2008 4:25 PM

OMG is he crazy!!!! Does he not know that HRC has her $100 million invested in the very... off shore (NY Based) Hedge Fund that has been refilling her personal wealth pie hole with Oil and Grain futures since September? This will be taken as a slap by the Rodham Clinton supporters for sure. Next thing he will want Chelsie Rodham Clinton (the other empty pant suit) to resign her job at same Hedge Fund (NY Office). What is also ambarrassing is that Obama is scheduled to meet with HRC fundraisers next week, a significant majority Hedge Fund Types. HRC, as a NY Senator HAS to represent the interests of these these very constituents. Going to be interesting. Talk about CHANGE. Obama now, more than ever.

Posted by: angriestdogintheworld | June 22, 2008 4:22 PM

Next, McBush will be wanting to regulate the Courts and all democrats and independents that did not vote for him. As least Obama limits his desires to things that make sense. Good for the both of them!

Posted by: Daddio on the Paddio | June 22, 2008 4:21 PM

So they agree. If that means McCain has come back to his senses and no longer supports clubbing baby seals in ANWR and lining the Florida coast with oil platforms, then good for him.

Posted by: Ed Lynch | June 22, 2008 3:48 PM

have you seen obama's new presidential seal?

http://thevote.abc13.com/2008/06/so-im-surfing-t.html

Posted by: TOMABRAHAMS | June 22, 2008 3:32 PM

The comments to this entry are closed.

 
 

© 2009 The Washington Post Company