Michael Greenburger former Commissioner of the Commodities and Futures Trading Commission made clear in his C-Span appearance today that the 2000 legislation that Senator Gramm engineered- which allowed Enron the necessary tax loopholes to run amok now allows those who trade in oil futures license to drive up the price of gas by as much as 25c a gallon according to independent industry experts.
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Last year he testified that some oversight of these "dark markets" that trade in energy futures could reduce costs by as much as $30 dollars a barrel.

Greenberger is now a Professor of Law at the University of Maryland and needs to be invited onto all the major talk shows from Larry King to Olberman. Enough of the specious talk about the campaign and the VC contest--lets talk about some real issues. How did Senator Clinton ignore this one--why did she continue to spout the nonsense about removing the gas tax--(no wonder this silliness is supported by McCain --he was a firm backer of the Enron loophole fiasco and now has Gramm as an economic advisor). Other questions arising from the Greenberger conversation this morning--How does this administration get away with zero oversight of these markets. Why was the Congress so silent on this issue until recently? Who is really making money off the price gouging? Could it be we bailed out Bear Stearns (a group along with Goldman Sachs that Golbderger fingered) so they could continue like Enron to continue their war against the American consumer? Questions, questions--but ones more substantive than much of the talk show irrelevance that purports to be about politics but is really a distraction from the main issues at this point in the campaign.

Posted by LifestoryDVD at 10:25 AM