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Obama and Speculators

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posted on Jun, 22 2008 @ 05:16 PM
I'm just curious how Obama thinks speculators are causing the gasoline prices to increase. Anybody care to give a try at explaining this?

Heres' what Obama had to say:

Obama said in a statement: “My plan fully closes the Enron Loophole and restores common-sense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future.”

The campaign calls the loophole “one example of the special interest politics that put the interests of Big Oil and speculators ahead of the interests of working people.”

Obama said: “For the past years, our energy policy in this country has been simply to let the special interests have their way — opening up loopholes for the oil companies and speculators so that they could reap record profits while the rest of us pay $4 a gallon.”


I can see why Obama is accused of talking in "platitudes" after reading this stuff. I never heard anybody who talks so much and says so little.

So just how is closing this "loophole" going to stop "speculators" from bidding up the price of oil? This seems to be nothing more than election politics, with Obama trying to act like he's doing something for the "people" and blaming another boogeyman, this time the "speculators."

So how will closing this "loophole" stop speculators from bidding up the price of oil?

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