McCain and the Enron Loophole
by GFORD, Thu Jun 19, 2008 at 11:36:01 AM EDT
I commented earlier on Jerome's front page diary 'Oil, uh-oh' that we should explore other ways to lower gas prices over the short term other than drilling offshore. One of the solutions I wondered about was whether we could put some controls in place to prevent speculation from driving up the price. The other solution was could we draw down the oil reserves.
The attached link to DU contains a video of Olberman's Special Comment about the Enron Loophole, John McCain's position on it and how closing it would affect our gas prices. You will also be surprised at who holds the biggest oil reserves.
Anyone who hasn't already seen it should watch. Same as it ever was, the Republicans have gamed the system in order to appease their rich friends at the expense of everyone else. Now they want us to believe that the reason gas prices are so high is because we Democrats are blocking offshore drilling, not because they have relaxed the rules for oil speculation and driven up the price. We need to tackle this one head on as Keith has done.