By:
Nicole Belle on Thursday, June 19th, 2008 at 6:45 AM - PDT
How can you tell if John McCain is lying to you about how drilling in ANWR will help save American dollars and bring down the cost of oil? Phil Gramm’s lips are moving.
Keith Olbermann looks at the infamous “Enron Loophole” and how McCain Senior Advisor Phil Gramm is neck deep in policies that screwed the public for the gain of the almighty corporate dollar.
Jason Rosenbaum at The Seminal explains why this oil drilling is a fraud.
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129 Responses for “Countdown: McCain, Oil and The Enron Loophole”
Required viewing. Thanks for the post.
Why don’t we drill in a republican’s ass? They’re some oily greasy muthaf*ckers.
This is NOT A SPECULATION PROBLEM!!DAMN! This is a drop in the American dollar…at least 80 percent of it. Geez.
http://ca.youtube.com/watch?v=iwAHnpIR8is
(Listen to Paul Van Eeden..not the first guy.)
http://ca.youtube.com/watch?v=jqz9J4hxh3k
((Here is Peter Schiff))
http://ca.youtube.com/watch?v=.....re=related
What is going on here is a scheme to stop people from protecting their investments against the Dollar bubble created by the FED. This is dollar decline and people will learn this to hard way. If they take away the ability of people to protect their money like FDR did in 1933 with gold we ALL will be in trouble.
If its only 25 percent of the cost the so called speculation (more like 10 percent) then gas will still be over 100 dollars. WHere did that come from? INFLATION! This is not going to stop and taking away the average persons way to save their money in something real like oil or in the past gold leaves us at the mercy of the bankers.
this new push for offshore oil drilling is so blatantly designed purely to make the wealthy oil companies even wealthier…it won’t make a significant diffrence in the price of a barrel of crude…and on a side note…notice how all these roughneck shows are coming out on history channel….axe men, tougher in alaska, ice road truckers, and now that new one about oil rig crews…seem like kinda an anti-environmental pro-business theme goin on…or, I’m just paranoid.
“BAGHDAD — Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.”
http://www.nytimes.com/2008/06.....ref=slogin
Mission Accomplished.
Olbermann slammed that out of the park. Why don’t we commonly see more in depth reporting like that on TV anymore? It use to be the norm.
liberalDAPJIHADISTmoderation @ 5:
It’s a classier act than the old USSR films, that portrayed the working class as heroes of the State.
Actually liberal you are on to something, this crisis is being used as a way to allow things we shouldn’t.
BUT
its not speculation that is not causing this problem because you can save your money too. I make 18,000 a year in Canada, I took a mutual fund and actually saw a return because I invested in Commodities but if I put my dollar in the bank I would have lost 10 percent since the beginning of the year. This is a campaign to kick you out of the loop…gas prices will go down at first if they take this from us to about 100 at the lowest…then it will go back up and only the insiders will have the investments.
RonPaul @ 4:
That’s why I buy gold and silver
RonPaul @ 8:
I wish more people were like you and actually used their head for something other than a hat rack.
We’re sitting on the second biggest oil reserve in the world and after 5 years in Iraq, oil output in that country is still below prewar levels. WTF? I wonder who benefits from keeping that oil off of the market?
If its only 25 percent of the cost the so called speculation (more like 10 percent) then gas will still be over 100 dollars. WHere did that come from? INFLATION! This is not going to stop and taking away the average persons way to save their money in something real like oil or in the past gold leaves us at the mercy of the bankers.
That’s why I buy gold and silver
Good move listen to the Real Ron Paul and the guys I showed you in the video. YOU DO NOT HAVE TO SUBSCRIBE to their political views but you should listen to their financial advice. They are obsessed with money and know what they are talking about.
Kent Weed @ 11:
Not for long.
BAGHDAD — Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power.](http://www.nytimes.com/2008/06/19/world/middleeast/19iraq.html?_r=1&partner=rssnyt&emc=rss&oref=slogin
Kent Weed @ 11:
Remember how much oil goes missing in Iraq every day. By the way, we are already drilling ANWR. It’s disgusting the environmental damage I’m told it is already doing up there.
Please don’t send me your missing nuclear components either. I think there may be a conspiracy going on by the wealthiest to actually build up their own munitions and hold the world hostage. Be careful.
Why thank you Annie, now go get in on this before the Democrats take it from you.
Remember folks BOTH parties are corrupt and want to take everything they can from you to make you dependent on them…thats the point. Thats why Neo Cons created more social programs than ANY dem and the dropping dollar is the reason you need “Universal” healthcare.The dollar has been dropping since 1913.
RonPaul @ 3:
Yeah Mr. lbertarian.
FDR did a hell of alot of good fixing the problems the “libertarian-free market” bankers created. Did he completely take us off the gold standard? Amazing how his policies created a 60% plus political majority for over a half century. And that the libertarian free market repukes destroyed the country in just 12 years after they started deregulating his most important pieces of legislation. Libertarian = let the super rich eat everyone else, while the government looks the other way!
What’s going on here is nothing more than good ole’ fashoined GOP/Wallstreet/FED greed.
Corporations never die, they just come back to haunt you with their gluttonous and evil policies.
Roket @ 17:
I like it. Got that on a bumper sticker?
This offshore oil drilling scam is just another smoke and mirror war on drugs/illegal immigration bullshit stunt to pacify the criminally ignorant. Like Dubya, McSame believes we’re stupid so he throws us a plastic bone while making his wealthy friends richer…at our expense of course.
NoGWBpolicyleftinplace Says
Yeah Mr. lbertarian.
FDR did a hell of alot of good fixing the problems the “libertarian-free market” bankers created. Did he completely take us off the gold standard? Amazing how his policies created a 60% plus political majority for over a half century. And that the libertarian free market repukes destroyed the country in just 12 years after they started deregulating his most important pieces of legislation. Libertarian = let the super rich eat everyone else, while the government looks the other way!
What’s going on here is nothing more than good ole’ fashoined GOP/Wallstreet/FED greed.
Actually it was FDR’s policies that cause the depression to last longer because he did what the Fed is doing now, you have to bone up on your history and stop reading “socialist monthly” or whatever you folks read. The Gold standard is what cause prices to stay the same year from year and made real savings possible. Paper money allows for the warfare state we have now.
Poor misinformed folks will never learn I guess.
Weaseldog @ 7:
Classier…maybe…more subtle…undoubtedly….and those old propaganda films have such awesome music.
Regardless, I think it’s pretty obvious that allowing the Fox to watch the henhouse and deregulating the power market, the housing market, lending practices and then selling them off to a deregulated speculative market, allowing privatization of formerly “public” utilities to the likes of Enron who then cook their own books to make themselves seem liquid after overselling the same power on a speculative market is a direct result of just this kind of loophole.
I’d be willing to bet that if Cheney’s secret 2001 energy summit meeting records EVER come to light you will find that we are now exactly where they wanted us to be back then.
So this RonPaul character screeches and moans that evil Dems are about to take away free trading and leave us all at the mercy of the bankers. Never mind that the price of gasoline has risen 30% in the past year, with no appreciable upsurge in demand in that same time period. Weak dollar? A factor, no doubt (thanks W!). But the only factor? No. Speculators are cashing in. It’s profiteering. It’s wrong. And it needs to be aggressively addressed by our government.
It’s pure Vulcan logic, Mr. RonPaul: The needs of the many outweigh the needs of the few. Sure, you’re having a ball getting rich on oil right now. But tell, please, Mr. Unregulated Market Guru — where’s the trickle-down effect you bozos keep telling us about? I see you getting rich. I see Phil Grahm getting rich. I see the oil companies getting off-the-charts freakin’ rich. But I don’t see any money trickling into my pockets. Quite the opposite: I see lots of money gushing out of my pockets every time I wheel into a gas station.
(On a related note: Wolfie on CNN interviewed a Chevron exec who claimed that “I don’t think the American people blame (Big Oil) as much as you suggest.” That said a lot to me. If this moron is that deluded, no wonder they’re laughing all the way to the bank.)
liberalDAPJIHADISTmoderation @ 5:
I think it is a move by the big Oil giants to manipulate the Election year by causing a problem that will hurt the pockets and divide the Democrats. You’ll notice that this administration has done nothing to ask the people of the USA to sacrifice ANYTHING? No dropping of the speed limit, no asking to cut back on air-conditioning, unnecessary travel, etc.
The people with the most money are Greedy yes, but they are also smart and manipulative, that’s how they got their pile-o-cash, by manipulating the populace.
Fight back by doing all those things, take away their power by not buying so much of their product and they will start to make squirming, squealing sounds.
http://www.ft.com/cms/s/0/74bf.....ck_check=1
Heathwood @ 25:
Why would anyone visit an unknown site that is so criptic in nature from someone we don’t know.
Could be a bad-code page.
Another thing that strikes me as odd is why this is just coming up now (in an election year) when it seems well established that the minute impact this might have on oil prices would take several years to be realized.
Moggy you missed the point of everything I said, its not your fault and i am not trying to talk down to you but you are not understanding. The paper dollar is worthless, you HAVE to invest in real things like gold, oil, silver. The bankers manipulate the value of the paper year after year and its always buying less. Thats why you are at the mercy of the bankers.
Watch “Money As Debt” on you tube and you will learn.
RonPaul @ 20:
phhpt….
no, we have learned. we have learned that the market populists have led the country down the path of financial crisis. the new gilded age.
the “free” market myth believers would have us dig our financial hole deeper. and, naively, they assert that their policy prescriptions will not be a boon for corporations, furthering their hold on our society and economy.
‘one dollar equals one vote’ is plutocracy, not democracy
RonPaul @ 20:
Where can I get a copy of socialist monthly?
As for FDR, you need to quit reading Rand novels and deal with reality. The horrible mess we find ourselves into today, just lke in FDR’s day, was created by guys like you who believe in libertarian free market Darwinism! If it wasn’t for those libertarian unregulated economic policies you espouse, we wouldn’t have had our first great depression, or the one we are teetering on now! Yes, lets blame FDR for having difficulty FIXING the problems that economic libertarians created. Good grief! Get a clue!
Yes, you really are misinformed and naive.
Kent Weed @ 27:
Exactly !! see post #24, they are manipulating the election process.
Ex-Bear Stearns Fund Managers Arrested by FBI Agents
Annie @ 10:
Hat rack = out.
Baseball cap = in.
Ron Paul @ 28…you do have a point..but I live week to week, I can’t invest in jack-squat.
Oh, and oil production that has been flat as a pancake since May 2005 has nothing to do with this? There are more people since 2005, so the demand is higher. Oh, and dumping hundreds of billions of dollars into the system to devalue the debt and bail out the banks has nothing to do with it? Now, throw speculators on top of the mix, and bingo! Big problems.
♠Bob In Chiang Mai♥ @ 24:
I agree Bob, I do that pretty much anyway….I’m no model consumer, that’s for sure.
NoGWBpolicyleftinplace @ 30:
And FDR put the country to work building and strengthening its own infrastructure and Dam projects etc. Ours is falling apart right now and people need work, but unless it can get into bush and cheneys and their buddies pockets they wont do anything.
You will be enlightened but bored with this video. It’s worth it though.
http://video.google.com/videop.....7167011147
((Here is some real bad news that backs up what I say.
http://www.telegraph.co.uk/mon.....rket18.xml
(As for NoGWBpolicyleftinplace and Samson
FDR ruined people, he robbed the dollar of 70 percent of its purchasing power in 1933 and its continued ever since. You guys are ignorant of History. Here is a video you all should watch…and learn.
http://ca.youtube.com/watch?v=cy-fD78zyvI
Try watching and learning instead of spewing Communist garbage.
♠Bob In Chiang Mai♥ @ 26: