Lassie you have done my heart good. It is nice to know so many people are actually watching cspan and starting to learn just how bad all this deregulation and globalization being pushed by the Republicans and other traitors in washington really is.
You explained this well lassie that is exactly what I heard as well.
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Originally Posted by lassie
Hi George,
I watched the same C-span hearing and was amazed at how much we don't know about the costs of oil and how the money flows.
From what I gather from the experts its 40- 40- 40 split. 40 percent goes to the actual cost 40 percent to the oil cartell and 40 percent to the speculators. How they arrived at those figures, I don't know.
The Enron loophole law passed in 2000 did away with regulating the speculators as we have for the last 78 years up until 2000. This law passed in 200 deregulated the market for speculators so many have set up abroad with no rules and no oversight. Instead of the the government being able to regulate a bad speculator easily, The government has to prove that a company needs regulating instead of the other way around. Only one company in 1000 has been regulated because of this burdensome law that makes it hard for the government to do proper oversight and regulation.
The companies like morgan-stanley are hording the gas and controlling prices and have set up shop in dubye and England to make it harder for oversight.
Get rid of the Enron loophole. It would bring down our gas prices 25%
This hearing was really good. It explained why we have such a drastic rise in gas prices.
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