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We Can't Drill Our Way Out

Is there some sort of contest between McCain and Senate Republicans? Both seem to be going for quantity over quality, McCain with his daily gaffes, flip-flops and cheap shots, and the Roadblock Republicans with their record filibusters. It seems as though after Senate Republicans set an all time high for blocking legislation last fall, McCain just decided to stop going to work and strike out on his own to see how many screw-ups he could manage in a row. Quite the maverick, that guy.

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Republicans blocked an effort last week by Senate Democrats to lower gas prices, and despite the fact that Norm Coleman (R-flipflopper) released a study with Carl Levin two years ago that found speculation was a major contributor to high energy prices, he voted against the legislation.

This is what the report said two years ago:

The report recommends that Congress enact legislation to close a major loophole in federal oversight of oil and gas traders, slipped into law in 2000 at the behest of Enron and other large energy traders.

This is what Norm Coleman said about the report at the time:

“The question is whether we have allowed this sector to play by the beat of their own drum – going virtually unchecked and unregulated. We need to take a hard look at whether we have enough regulatory tools to prevent fraud and ensure there isn’t profiteering by traders at the expense of you and me.” - Norm Coleman June 27, 2006

Incredible, isn't it? Norm Coleman and the rest of the Republican obstructionists in Congress know that oil price speculation is contributing to high prices, yet they voted against a bill to help curb it.

That fact didn't escape the watchful eye of Al Franken, the next Senator from Minnesota, who took note of Coleman's vote and introduced his energy plan to give Americans relief from high energy prices.

So, while Senate Democrats and Democratic candidates are looking to ease the pain of high fuel prices, Senate Republicans are blocking bills so they can help their oil buddies.

From CNN:

The bill would provide more resources and authority to the Commodities Futures Trading Commission to detect and punish speculation, stop speculators from using foreign markets to manipulate the price of oil in the United States, require more transparency in oil markets and limit the trading of market players who do not intend to take delivery of the oil they purchase.

In particular, the bill will give the trading commission greater power to regulate the "swap" market for futures and differentiate between "legitimate" and "illegitimate" hedge trading, which, the Democrats say, has led to increased prices.

It's really no surprise that Republicans want us to pay more for gasoline, what with two oil guys in the White House. These guys have marched in lockstep with the Bush-Cheney administration for years, rubber stamping George and Dick's every wish, and restricting the power of Congress by mirroring, rather than providing a check on the Executive branch. And while Republicans continue to try to bamboozle the American people by calling for more drilling, they don't mention the millions of acres where oil companies already have leases and permits to drill, but haven't. Nancy Pelosi discussed the issue with Jon Stewart on last night's The Daily Show.

Last week, Senator Kerry spoke with MSNBC about the effect of gas prices on small businesses, and the Senate Democrats efforts to provide a near term fix.

We can't drill our way out of our energy problems. Senator Kerry has been saying that for years. We can, however, get some relief from high gas and heating oil prices by controlling speculation.

If Republicans will stop obstructing.

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