Saturday, July 26, 2008

RepubOILcans block measure to lower gas prices

Apparently in an attempt to get more time for the oil speculators on wall street and Big Oil to reap more profits on the backs of American consumers, the RepubOILcans in the Senate blocked Senate Bill 3268 from being voted on.

This bill would be one of the few simple short term solutions to the problem of high oil prices, that would place Oil Commodity trading under the same rules and regulations that are in place for all other such trading.

This loophole that has existed put in place by McCain's economic guru Phil Graham, has allowed speculators to falsely inflate the price of oil on the world markets to gain even more profit for themselves while forcing the price at the pump higher and higher.

Though this is just one step in a multifaceted solution to lowering oil prices, this one corrects a wrong and would have immediate effect and can be done now. Experts have estimated this bill alone would lower oil prices up to 20%.

Seems simple upfront and a correction that could be made immediately. One problem, it negatively effects the profits of big oil and these speculators that back the these RepubOILcans, so they voted to prevent this bill from passing.

The RepubOILcans also today blocked a vote on a bill that would provide energy assistance to low income homeowners. Why, because it did not include any provisions to allow Oil Companies to pad their balance sheets with new idle leases. Since this bill had nothing to do with energy production, the RepubOILcans are proving with clairity, they have one goal, more profits for Big Oil and they will block any attempt to help consumers unless they get this.

Apparently they are stalling for time to give big oil more profits as long as possible until the Democrats have a larger majority in the Congress and take the White House.

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