Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00055

Submission Number:
535819-00055
Commenter:
noga
State:
FL
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

The oil companies should lose any tax subsidies that are provided by the federal government, there should be an excess profit penalty and that money should be used to further alternative sources of energy, like the compressed air powered car that is to go on sale in India. That car should be sold in this country. I cannot understand why diesel fuel is selling at a higher price than gasoline, it isn't refined as much as gasoline , also heating oil which is produced in this country, not imported why the high cost ? There should be not commodity trading on oil or oil related products. This like the tech stocks, housing market bubble, is a market driven by the greed of speculators and hedge markets. The problem with the speculation on oil is that all americans are affected in a negative way , recession, no , depression is where this country is headed unless strong measures aren't taken up by forward thinking leaders, which this country lacks. This surge in oil prices is going to alter our country in a negative way, Since we are an exporter of food products , the price of our exported food to OPEC members should be tied to their oil production and prices. Part of this problem rests with the current administration letting the dollar fall, congress bears responsibility too, for the tax advantages given to corporations for moving production overseas. I have no solutions to high prices for oil. Nationalize the oil companies ? Something needs to be done, the profits are obscene, the terrorists are the oil companies. E. Noga