- BitsBlog - http://bitsblog.theconservativereader.com -

They Still Don’t Get It on Energy Regulation

You didn’t hear about this yesterday, I’m willing to bet. The Senate Commerce Committee met on Tuesday, trying to figure out what to do about the sharp increase in prices on oil. I mentioned the other day that George Soros was one of the people there [1]. I’ve mentioned the reasons here many times…. simply getting government out of the way, at every stage from dead dino to your gas tank.
But guess what their answer was? Exactly the opposite, and one that Soros must have been cheering… The Hill [2]:

Sen. Maria Cantwell (D-Wash.) suggested that oil companies may be manipulating energy markets as Enron did in 2001, and that the Federal Energy Regulatory Commission and the Federal Trade Commission needed to more aggressively regulate all futures markets

Do you understand? Their answer is… more regulation, and more aggressive regulation.  Rather reminds one of a bunch of drunks in a car. The driver notes they’re going in reverse, and decides the answer is to hit the gas harder. Blinking idiots.

And oh, by the way, the markets reacted predictably to the ‘solution’ proposed… the price of crude went up by $5/bbl, yesterday. It’s clear, that the Democrats, and some of the Republicans simply don’t get it.