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Senator Obama, allow me to make a suggestion on oil prices:

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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 12:56 PM
Original message
Senator Obama, allow me to make a suggestion on oil prices:
Offer a bill on the floor of the Senate before the convention, that if enacted into law would:

1. Close the Enron Loophole and

2. Mandate that any purchaser of oil take physical delivery of that oil before being allowed to resell that oil. No more "paper-only" transactions. Most speculators in that market don't have any place to store the oil---make them take physical delivery, and you'll stop this bullshit.

And, the American people will love you for it. Gasoline prices would be cut in half in a matter of days.
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cliffordu Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 12:58 PM
Response to Original message
1. I think you're on to something there.....
Except the Repubs will scream bloody murder that Obama is hindering 'fwee twade'.
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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:00 PM
Response to Reply #1
3. Let them scream...
What will the voters want? Cheaper gasoline, or "fwee twade" manipulated prices? :hi:
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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 12:58 PM
Response to Original message
2. And, the beauty of it is...
any Repuke or Blue Dog who opposes it will open themselves up for the real criticism that they really don't want to do anything about oil prices, either in the short or long term. Great campaign issue.
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NatBurner Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:02 PM
Response to Original message
4. i like it
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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:06 PM
Response to Reply #4
5. Think about this:
Let's say that the law gives those who own oil, but haven't taken delivery of it at the moment it's enacted ONE WEEK to either take delivery or sell the oil. All the oil these speculators own on paper all of a sudden drops in price to about $50 a barrel. They will lose their shirts...which is only just, because they are taking all of us to the cleaners.
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cliffordu Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:26 PM
Response to Reply #5
6. I like this part the best....
MUUUAAHAHAHAHAHAHAHAHAHHHHAAAAAHHAHAHAH!!!!

'And the horses they rode in on.'

:rofl:



I like your thinkin' podner.

:yourock: :applause:
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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:28 PM
Response to Reply #6
8. I would grin like a Cheshire Cat. nt
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:28 PM
Response to Original message
7. The only problem with #2.... Oil is sold on the WORLD markets, and we can only regulate our own
markets.


Speculators in other countries and on other markets would not be affected.
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rateyes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 01:34 PM
Response to Reply #7
9. Less buyers, though, would mean less demand...
wouldn't you think? :shrug:
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-11-08 02:32 PM
Response to Reply #9
10. Not really, no..... US-based speculators would just set up foreign "fronts" for doing it....
....
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