Monday, June 23, 2008
Barack Obama on Sunday said he would tighten the regulation of oil speculators in an effort to ease record high gasoline prices and address one of Americans’ top concerns.
Closing the so-called Enron loophole, a legal provision requested by that company in 2000 that exempts crucial energy commodities from government oversight, would prevent traders of American crude oil from routing transactions through offshore markets to evade American limits and working with other countries to better regulate oil-futures markets.
Obama also called on the Federal Trade Commission and the Department of Justice to investigate market manipulation and oil futures.
“My plan fully closes the Enron loophole and restores common-sense regulation,” the senator said in a campaign statement.