That said, let me say, for the record, that Democratic (nee Socialist) Presidential Candidate Barack Hussein Obama has once again announced his intention to regulate business, by stopping speculation in oil trading.
With the cost of gas a top issue in the presidential campaign, Barack Obama on Sunday will announce a plan to crack down on oil speculation by tightening regulations on energy traders. The announcement is further evidence that an Obama administration would take an activist, populist approach to regulating business.
Obama wants to close a loophole in federal law that exempts some energy traders from regulations that govern other exchange-traded commodities. Democrats call this “the Enron loophole” because it benefited the Houston energy-speculation firm that collapsed in an accounting scandal.
In response, John McCain campaign spokesman Tucker Bounds said: “The truth is Barack Obama is following John McCain’s lead to close a Wall Street loophole that was signed into law by President Bill Clinton. John McCain has supported bipartisan efforts to close this loophole and will work to address abuses in oil speculation.
Not just Barack Hussein Obama, but also John McCain, want to once again insert government intrusion into private business. This intrusion will do nothing but screw the entire country.
Here is some intrusion that MOST Americans want -- OPEN THE ALASKAN OIL RESERVES!!! ALLOW DRILLING AND REFINING OF SHALE OIL IN THE DAKOTAS!!
Barack Hussein Obama dismisses this idea, claiming that it won't provide returns for up to a decade. However, people who actually WORK in the field say it will provide returns in less than a year. And the Alaskan pipeline is ALREADY IN PLACE. We just have to relax INTRUSIVE GOVERNMENT REGULATIONS PUT IN PLACE BY BENDING OVER TO LIBERAL SPECIAL INTEREST GROUPS and build new refineries.
Do any of you realize that NO new refineries have been built for nearly three decades, even though technology has increased to the point that their environmental footprint will be minimal? And why haven't they been built? LIBERAL special interest groups, who would be quite happy to see the United States achieve the rank of third world country.
These are the same people who piss and moan about importing refined gasoline from other countries. How can they intellectually justify their positions? They can't. There is no intelligent way to do so. They want us to be energy independent, yet don't want to allow the tools to do so.
Mike Allen, from Yahoo! news, wrote a story, from which I have pulled the following excerpts, and made remarks:
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.”
Here is some common sense, Mr. Barack Hussein Obama: QUIT MEDDLING! You have never held any position in any business; you have lived off the public largesse as a public employee, and only hold theoretical knowledge of the private sector. Let the American people invest in a better future by opening up ANWAR and allowing off-shore drilling. Stop bending over and grabbing your ankles to LEFT-WING SPECIAL INTEREST GROUPS and restricting American business, while supporting FOREIGN interests.
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.”
Here are excerpts from the text of the four-part “Obama Plan to Crack Down on Excessive Energy Speculation,” as provided by the campaign:
1) Fully Close the “Enron Loophole”: One of the reasons our energy market is particularly vulnerable to excessive speculation is the so-called “Enron Loophole” … [which means] Commodity Futures Trading Commission (CFTC) is unable to fully oversee the oil futures market and investigate cases where excessive speculation may be driving up oil prices. This regulatory gap is dangerous because: 1) the absence of government oversight has the potential to facilitate abusive trading or price manipulation. And 2) the failure of a large derivatives dealer could trigger disruptions of supplies and prices in energy markets. As President, Barack (Hussein) Obama will go beyond the changes included in the recently-passed Farm Bill and fully close the Enron loophole by requiring that U.S. energy futures trade on regulated exchanges. He will call for new, disaggregated data on index fund and other passive investments to increase transparency and oversight of the growing number of institutional investors participating in commodities futures markets. And he will support legislation directing the CFTC to investigate whether additional regulation is necessary to eliminate excessive speculation in U.S. commodities markets, including higher margin requirements and position limits for institutional investors.
2) Ensure That U.S. Energy Futures Cannot be Traded on Unregulated Offshore Exchanges: CFTC oversight of oil market speculation is also limited by rules that allow energy traders to engage in unregulated transactions through foreign subsidiaries of U.S. exchanges. Currently, about 30 percent of U.S. oil futures trades fly below the regulatory radar because they are transacted on a U.S. exchange that works through a subsidiary in London. Similar arrangements are being pursued by U.S. exchanges in partnership with Dubai as well. Barack Obama would limit the price impacts of excessive speculation by preventing traders of U.S. crude oil from routing their transactions through off-shore markets in order to evade speculation limits and also impose reporting requirements.
3) Work with Other Countries to Coordinate Regulation of Oil Futures Markets.
Why? Why should the United States of America allow other countries to dictate our regulations? Isn't this just another one-world government tactic, designed to destroy the economic stability of this country?
4) Call on the Federal Trade Commission and Department of Justice to Vigorously Investigate Market Manipulation in Oil Futures.
It appears that Mr. Barack Hussein Obama wants very much to regulate as much of our lives and businesses as he can. How typical of a liberal politician. Regulate, regulate regulate, because American's are incapable of thinking for themselves. Regulate business until it becomes a tool of the state.
We have seen how well socialism works. Lines for sub-par medical care, unless you are connected. Being told where you can live, and what you can buy, and what you can do. Socialism suppresses intellectual advancement, and the human drive for advancement.
Look at Mr. Barack Hussein Obama's voting record before you vote for him. Exercise YOUR intelligence before casting your vote.
Not that John McCain is much better; look at the McCain-Feingold fiasco. This is one stupid election, with neither candidate being that much different from the other. The only major difference is that Barack Hussein Obama is up-front about regulating as much of our lives as possible; he has stated he will raise taxes on corporations (who will not pay them out of their profits, but will pass the cost to you, raising further what you have to pay for products and services!), and will raise taxes on the highest wage earners (excepting politicians, actors and athletes, thanks to loopholes enacted by William Jefferson Clinton). Will these people pay more out of their pockets? NO!!! The highest wage-earners OWN THE CORPORATIONS AND BUSINESS WHO BOTH EMPLOY YOU AND PROVIDE THE THINGS YOU NEED TO BUY!!! They will pass on their increased taxes TO THE COMMON MAN!!
People, this is economics 101. It is common sense. But the American people have become herd animals, following the loudest voices braying in the crowd. We have been told by liberal voices not to express any but their opinions, not to stand up for ourselves (unless it is politically correct to do so, as in gay "marriage") and accept what the government wants us to do.
It is time to stand up and say, HELLO!! MCFLY!! LISTEN TO THE REGULAR FOLK, AND STOP RAISING OUR TAXES, DIRECTLY AND INDIRECTLY, AND ALLOW COMMON SENSE TO REIGN!
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