Congress Looks for a Culprit for Rising Oil Prices

[groovedaddy]

With Americans growing angrier by the day about high gasoline prices, nobody can accuse Congress of turning a deaf ear.

On Wednesday lawmakers will hold their 40th hearing so far this year on the cause of high oil prices. Filing bills on Capitol Hill to combat the problem is becoming a cottage industry, with clever names like the Prevent Unfair Manipulation of Prices Act, or PUMP Act, and the No Excuses Energy Act.

Until recently, lawmakers had focused on the traditional suspects: oil companies and the Organization of the Petroleum Exporting Countries. But increasingly, they are casting a suspicious eye on the role of investors, including speculators, in driving up prices.

As the ninth hearing of the month gets under way on Wednesday, one of the nation’s best-known energy experts, Daniel Yergin, is expected to tell Congress that the focus on speculation is largely misguided.

http://www.nytimes.com/2008/06/25/business/25oil.html?th&emc=th

[daa]

1. Did they try looking in the mirror?

I can't remember any coherent energy policy congress has passed in the last 20 years?

[glowing]

2. beat me to it... they are the one's who approved the Cheney-oil energy policy.

[daa]

3. And never investigated his Enron energy group nt

[Demeter]

6. And Don't Forget Iraq and the War for Oil

[ReadTomPaine]

7. bingo.

[Hydra]

4. Did they think to look at the White House?

Or is Bush now a sacred cow?

[Andy823]

5. They could have stopped

Rising prices years ago, but they didn't because when the republicans were in charge, the lobbyist filled their pockets with money. Now the democrats are in charge the same thing is happening. Money talks, and it buys the votes of those in both parties that want to fill their pockets with cash while the can. Those people need to be voted out of office and we need to get people who really will help this country, and the citizens of this country instead of taking money for their own benefit from big corporations that want to screw the people while making billions in profits.

They can cut prices oil in half by passing a bill regulating speculators. Any congress person who votes against such a bill and is up for election, would have to vote for it, or face the people and tell them why they didn't. If Bush vetoed it, that would pretty much sink any chance of republicans winning in November.

[groovedaddy]

8. What!?! and stop the "free market" madness? ;->

I agree. Get the self-serving politicians out and elect ones who actually give a shit about the country and what's happening to us.