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Administration Instructs Regulators to Stop Oil Price Manipulation - Insists on Carbon Tax Credits

April 18, 2012 | Comments: 0 | Views: 121

Fuel prices are high and people want answers. The GOP claims it is the administration's fault, and whereas, it is true that there is more than ample evidence of that, there is still much more to the story. So, here we are in an election year, a year with once again high oil prices that are smothering the economic recovery. What are they doing about it? Well, nothing really, but lots of talk and podium pushing and posturing. Okay so, let's talk shall we?

On or about April 17, 2012 Devin Dwyer wrote an interesting piece on the ABC News Blog titled; "Obama Seeks $52M, New Regs to Fight Oil Manipulation," which stated that the President wants more IT money to purchase state-of-the-art computer equipment to help the CFTC or Commodity Futures Trading Commission police the oil commodity traders, and;

"Obama also proposes a ten-fold increase in civil and criminal penalties for energy market manipulators, from $1 million to $10 million. And he wants to give the CFTC power to raise margin requirements in markets, and to share data more widely within government to look for patterns of misbehavior."

Sounds great right? Well, hold your horses there a second because CSPAN had segment a Congressional segment on where the regulators were talking with Democrat Legislators about the need for funding and asked for quite a bit of money about $105 million. It is interesting that the Obama Administration is preempting this request with their own public mass media announcement, thus, taking credit for the idea, and using their bully pulpit to press forward.

Now then, I'd seriously like to question this chess move and counter with some more facts. If new regulations are put into place, it will give the bigger commodity trading companies the advantage and take out the little guys, and even hurt those companies that MUST hedge against price spikes for instance trucking, aviation, railroad, etc.

Further, I question this push right now in an election year, as now there will be a new law put into place, and all those concerned will come to lobby Congress and the President with big purse strings from Chicago to have that law and new regulations custom tailored to their liking, just as all laws are done in Washington DC.

What concerns me the most is that this particular administration and those same members in Congress were quite heavy handed when Enron was trading commodities, as that company was big supporters of Congress too, but mostly the Republican Administration at the time, suffice it to say, this is what brought forth Sarbanes Oxley which didn't do a lick of good, judging by the same off-balance sheet accounting going on before the big financial crisis of 2008.

And lastly, these Democrat Gentlemen are the same folks that want to initiate a carbon-credit CO2 trading "Cap and Trade" tax scheme and they want to model it after what's being done in the EU, which by the way has been fraught with fraud from the very first day of trading. What am saying here? Well, it's simple, let's stop the hypocrisy, show-boating, and pretending that the Democrats are looking out for the people. They aren't - it's all about staying in power - obviously. Please consider all this and think on it.

Lance Winslow has launched a new provocative series of eBooks on Hot Political Topics. Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank; http://www.worldthinktank.net

Source: EzineArticles
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