Obama vows crackdown on energy speculators
JOHN DUNBAR, The Associated Press
WASHINGTON — 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 (U.S.) a barrel on Friday — almost double the price a year ago.
“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,” Mr. Obama said in a campaign statement.
1 comment:
If Oboma is elected, more and more of our business will leave this country to avoid his higher taxes. He will destroy this country with his higher taxes and larger government. Wake up and see the light America.
He is a phony and not a patriot,like he wants us all to think.
Gary LeBlanc
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