I said yesterday morning:
Sen. Maria Cantwell (D-Wash.) suggested that oil [1] companies may be manipulating energy [2] markets as Enron did in 2001, and that the Federal Energy [2] 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 [3].
That’s why.
The price jump yesterday can be traced directly to the attitudes and policies of the Democrats in Congress. The comments of Cantwell and others, show clearly that Congress is not ready to do what needs be done. Rather, they’ll continue down the path of trying to regulate their way out of the situation, rather than simply get out of the way, which is in reality the only way out. The controls being applied by Congress are working in the favor of those who are causing the price spikes. Congress announcing it plans to do more of the same, made things worse.
Still want the Democrats to stay in power, America?