Once The Farm Bill Passes Oil Prices Will Go Down?

[orleans]

from what i understand, on randi's show yesterday--
there is the enron loophole closure provision inside the farm bill
fuckhead will veto it and we have a veto proof majority in the house and senate


from randi's website:
TODAY’S ENRON

ONE PIECE OF LEGISLATION IS WHY OIL IS THROUGH THE ROOF
Lay, DeLay, Gramm, Gramm & Clinton
http://forums.therandirhodesshow.com/index.php?s=9dfdf72451c38dfdcc1e1156f548fceb&showtopic=2570

Posted on Mon, May. 19, 2008
ICE, ICE, Baby
One piece of legislation is why the price of everything is going through the roof
Special to the Star-Telegram
"There’s a few hedge fund managers out there who are masters at knowing how to exploit the peak theories and hot buttons of supply and demand and by making bold predictions of shocking price advancements to come, they only add more fuel to the bullish fire in a sort of self fulfilling prophecy." — National Gas Week, September 5, 2005 as reprinted in the US Senate Permanent Subcommittee on Investigations’ report, "The Role of Market Speculation in Rising Oil and Gas Prices," June 27, 2006

Fiddling While We Burn

There it is in plain sight for everyone to see, exactly what I’ve been reporting for the past few years: Many individuals who are investing in oil and natural gas futures are going out in the media and trying to convince the American public that either we are out of oil or there is a serious supply shortage of crude against worldwide demand. The question is: Does it surprise you to discover that the US Senate investigated the rigging of the oil market by speculators in the summer of 2006 – and concluded that there was no supply and demand problem with oil? Did you know that their conclusion was that speculators were responsible for a 70 percent overcharge in the price of oil in the months leading up to the summer of 2006?

(a lot more)
http://www.star-telegram.com/104/story/651928.html

part two:

snip

Today we call this situation the "Enron Loophole," but that’s untrue. It’s not a loophole: it was a new law passed in 2000 – and far more individuals than Ken Lay have used that law to line their pockets with hundreds of billions of American consumers’ hard-earned dollars. That’s not my opinion, that’s direct testimony by numerous experts before both the House and Senate.

Professor Greenberger warned about our "New American Economy" far better than I could:

"Should we have an economy that’s based on whether people make good or bad bets? Or should we have an economy where people build companies, create manufacturing, do inventions, advance the American society and make it more productive? We are rewarding people for sitting at their computers and punching in bets. That’s not the way our economy is going to be built, and India and China, with their focus on science and industry and building real businesses, are going to eat our lunch, unless the American public wakes up and puts an end to an economy that praises and makes heroes out of speculators."

Greenberger’s statement explains why Detroit and other American manufacturers suffer while Wall Street speculators make a fortune — and your rapidly shrinking checkbook pays for it, every time you buy food, fuel or feed.

All because there is no shortage of these goods, you’re just being told there is because it’s more profitable – for a few – that way.

http://www.star-telegram.com/ed_wallace/story/659081.html

[librechik]

1. It would help, but must US oil gets sold through the London Commodities Exchange

Which Enronized oil commodities back in 2005. We don't have any control over them, though you think they would recognize their mistake at this point and remove oil and heating oil from investors' reach. It's got to be hurting them too (except for the speculators, who are making millions)

[sam sarrha]

2. tax them 90%.. and its over... if i win the lottery i pay over half up front before i get a penny

[orleans]

3. .