Browsing All Posts published on »July 2nd, 2008«

The Weekly Carboholic: anti-oil speculator resolution useless political theater

July 2, 2008

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On June 26, the United States House of Representatives passed HR 6377, a resolution that requires the Commodity Futures Trading Commission (CFTC) to use all of its authority, including emergency powers if appropriate, to manage energy commodities. The resolution passed the House 402-19. This resolution is political theater. Not only are resolutions in general effectively […]