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Obama calls for end to energy loophole
ABC News reported Sunday that part of Obama's plan would close the so-called "Enron loophole," which was enacted in 2000 and exempts from federal regulation energy speculators who make trades electronically.
"For the past years, our energy policy in this country has been simply to let the special interests have their way -- opening up loopholes for the oil companies and speculators so that they could reap record profits while the rest of us pay $4 a gallon," the Illinois senator said in a statement.
Obama also is calling for the Federal Trade Commission and Justice Department to investigate price manipulation in the oil markets.
Obama's Republican opponent, Arizona Sen. John McCain, in the past has called for the Enron loophole to be closed, his campaign said.
"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 spokesman Tucker Bounds said. "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."
Copyright 2008 by United Press International
This news arrived on: 06/22/2008
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Posted Comments:
06-24-2008 05:59
Harry wrote:
Obama
He is even better than Al Gore, at taking credit for an idea, that isn't his. After all, if you look at his record,he hasn't brought up anything new. He votes present, not for or against, any controversal issues.Smart, real smart! The perfect politition; don't stick your neck out!We need a leader like him, to finish off this country, and turn it over to his Muslim brothers in the Middle East!
06-23-2008 20:25
Odis Easter wrote:
Loop Holes need closing
It is amazing that everyone always BLAME the other one for our peoples being misrepresented by allowing such Loop Holes to appear. Our U.S. Senators and U.S. Representatives allowed the Lobbists to push the Bills through, so they could give themselves a pay raise. When have you worked for anyone and gave your self a pay raise when you wanted it. Wake up America. If you keep voting the same ones in then this is what you get. Go and Vote. GOD BLESS AMERICA!!!
06-23-2008 14:18
Julia Waridi wrote:
Independent mind
By all acceptable standards Obama is a good leader with independent mind. He has taken most of the opponents' unawares and this tells all!!!
06-23-2008 09:45
Mama C wrote:
Would Someone Wipe His Nose Already?!
BO knows...Okay, so maybe he doesn't. ;) If we ever have a polititian with an original thought, who doesn't just regurgitate the party line at every convenience, I'll eat my hat!!!
06-23-2008 09:23
wrote:
hey Don CH the people were stupid enough to vote Bushwhacker in weren't they?
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