Obama Vows Crackdown On Energy Speculators

Freedumb, Freedumb, Read All About It! In a world of exploding human population, with its myriad needs, wants and desires, the economy keeps falling, with more and more working people around the world, poorer, lacking basic needs and going hungry. Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price of all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law

The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence.

The Solution: The Promise of New Energy Systems & Beyond Oil

Evaporates the Problem: The ill designed "Corporism: The Systemic Disease that Destroys Civilization." when lacking a Bill of Rights for Human Life

Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans).

As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.



Obama Vows Crackdown On Energy Speculators
WASHINGTON, Jun. 22, 2008
(AP) Sen. Barack Obama on Sunday said as president he would strengthen government oversight of energy traders he blames in large part for the skyrocketing price of oil.The Democratic candidate's campaign singled out the so-called "Enron loophole" for allowing speculators to run up the cost of fuel by operating outside federal regulation. Oil closed near $135 a barrel on Friday _ almost double the price a year ago."My plan fully closes the Enron loophole and restores commonsense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future," Obama said in a campaign statement.Obama's campaign blamed the loophole on former Sen. Phil Gramm, a Texas Republican who serves as Republican candidate Sen. John McCain's co-chairman and economic adviser. The Obama campaign accused Gramm of inserting a provision into a bill in late 2000 "at the behest of Enron lobbyists" that exempted some energy traders from government oversight.Houston-based Enron collapsed in scandal in 2001 when it was discovered the company had vastly overstated its income.McCain spokesman Tucker Bonds said McCain has supported efforts to close the loophole and noted the bill in question was signed into law by former President Clinton."The fact that Barack Obama is attacking John McCain, despite McCain's leadership on the issue, shows that Barack Obama is driven by the partisan attacks that Americans are tired of," Bounds said.McCain's campaign supplied a copy of a letter Gramm wrote to Sen. Byron Dorgan, D-N.D., on June 13 in which the former senator denied charges that the adoption of the bill was a "secret maneuver." Gramm said he had "nothing to with the writing of the provision" on regulation of energy trading.Obama's plan was outlined Sunday by New Jersey Gov. Jon Corzine, former chairman and CEO of Wall Street investment firm Goldman Sachs, during a conference call with reporters. Corzine said the volatility in the price of oil "is absolutely indicative of speculation in the markets."Congress already has acted to close the loophole, including a provision in the huge farm bill that passed earlier this year. But Obama's campaign said the candidate would go further by requiring that U.S. energy futures be traded on regulated exchanges.Obama also would ask the Commodity Futures Trading Commission to consider whether traders should be subject to higher margin requirements. He also would work with other countries to regulate energy markets and press the Federal Trade Commission and the Department of Justice to investigate possible market manipulation.The campaign said Obama's proposal is part of his broader energy strategy that calls for reducing oil consumption by 35 percent by 2030.Copyright 2008 The Associated Press