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Politics : Politics of Energy
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To: RetiredNow who wrote (841)7/23/2008 8:42:56 AM
From: RetiredNow  Read Replies (1) of 86355
 
Oh, and here's more information. Did you know that alot of the oil futures trades are transacted through the Dubai Mercantile Exchange? So we have an unregulated oil futures market being transacted on the Dubai exchange. When Enron was still in existence, they used these same unregulated markets and their own exchange Enron online to manipulate California electricity prices. When we all found out that they were stealing from the public blind, they were prosecuted and Enron went out of business.

Now we have a situation where we are allowing Arabs to set the price of oil futures. And guess what? They are stealing us blind. At $135 per barrel, we send $1 trillion per year out of this country. That represents 15% of American citizens annual take home pay. We're going broke and the Arabs are stealing us blind.

I say close the Enron Loophole asap.

washingtontimes.com
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