Tuesday :: May 29, 2007

Politicians reward their masters


by soccerdad

Contrast and compare:

Even as Congressional leaders draft legislation to reduce greenhouse gases linked to global warming, a powerful roster of Democrats and Republicans is pushing to subsidize coal as the king of alternative fuels.

Prodded by intense lobbying from the coal industry, lawmakers from coal states are proposing that taxpayers guarantee billions of dollars in construction loans for coal-to-liquid production plants, guarantee minimum prices for the new fuel, and guarantee big government purchases for the next 25 years.LINK

With this

In the face of withering pressure from the oil industry, the Democrats in the House, led by Congressman Bart Stupak (D-Michigan), have reportedly castrated their own legislation.

Stupak's original bill--HR 1252--would make it unlawful to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that "is unconscionably excessive" or "indicates the seller is taking unfair advantage unusual market conditions (whether real or perceived) or the circumstances of an emergency to increase prices unreasonably."

The law would be enforced by the Federal Trade Commission (FTC).

But according to a report by Darren Goode in Congress Daily AM, late last night, Stupak "added a trigger to his bill allowing the FTC to go after price gougers only during presidentially-declared energy emergencies."

In other words--almost never. LINK

At this point what is left to say.

soccerdad :: 7:06 PM :: Comments (9) :: Digg It!