Domeneci lets Oil Cartel's off the Hook

Yesterday one lone Democratic US Senator chose to do the the unthinkable and filibuster Sen. Domenici's "anti-price gouging energy bill" although you wouldn't have known it becasue none of New Mexico's newspapers reported it.

 

"Oregon Sen. Ron Wyden (news, bio, voting record) tied up the Senate for more than 4 1/2 hours Thursday trying to force a vote on a plan to end subsidies of energy companies that lease federal land."

Sen. Wyden did so because Sen. Domenici's price gouging bill would not apply to big oil companies and would basically only affect small, mom and pop retailers. 

Section 2 of Domenici's bill states"

“(for purposes other than resale)” thereby exempting the price gouging when gas is sold from one person to the other for the purpose of selling it again.

Section 3 also states it exempts price gouging of wholesale prices.  So, if Exxon jacks up the wholesale price of gas and then follows the law when it sets the retail price, they didn't’t gouge.

A friend noted that " gas prices are higher mostly because of oil company exploitation, not because the price of oil is going up at the same rate.  Oil companies are using the futures market as an excuse for massive price increases. If global instability were the only cause for high gas prices Exxon would not have reported $8 billion in profits.  We can't leave out the oil companies from this story."

Crooks and Liars did a remarkable job of capturing video of Sen. Domenici going bat shit over Sen. Wyden's Amendment.  I don't think that I've ever seen anyone on the floor of any legislative body vociferously come to an industry's defense like Sen Domenici did for the world's oil cartels.

Compare how Sen. Wyden stood tall and Sen. Domenici frighteningly tried to talk down his amendment.  It's really sad to see how weak Sen. Domenici is completely bought and paid for  by the big oil cartels.

See for yourself

With full compliments to Crooks and Liars  Video-QT