Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007
To cut through the congressional and media (and so-called experts) spin and blaming other countries for our misdeeds, let's get to the heart of the matter: Gas/fuel prices are high because the value of the dollar has fallen and will continue to do so because Congress and the President continue to spend money they do not have. Furthermore, the Federal Reserve fails to address the integrity of the dollar and also spends money it doesn't have in order to save Wall Street. Then there is the failure of Gov't to drill for oil in Alaska and off-shore so we remain very dependent on foreigners. The American people are also competing with their own Gov't in getting more oil to market, meaning that Gov't continues to purchase oil for Reserves not to mention oil going to fight our wars. And finally we come to speculators. Would we allow speculators to play their profit game if it involved military equipment? Well, oil is also a vital American commodity needed for our very survival, thus , speculators and what they are doing should be controlled/regulated. And then there is the oil industry itself. We have a shortage of oil refineries. Hmmmmm! And demand for gas has fallen yet prices continue to increase. Hmmmmm! I will not even go into the ethanol farce and its negative impact here and abroad. And so until our politcians obtain some intelligent economic knowledge and have the desire to attack the real problems (which they have caused) as described above, fuel prices can only go up and our current recession and inflation will get worse. It would be refreshing if the FTC tells the politicians and the American people the truth and speak plainly...this may be the first step in solving this self-created problem.