[MonteQuest]

$this->bbcode_second_pass_quote('threadbear', ' ')Is the FTC an impartial body?

[Aaron]

Refineries are NOT "gouging" (whatever that means); recent profits in refining reflect the price-points for the products they bring to the market vs. investments refiners made expecting $32/barrel oil.

The WSJ is often full of crap, & little more than a mouthpiece for big business.

As for this thread... I recommend Senokot.

[bobcousins]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('threadbear', ' ')How does the fact that they are having real difficulties obviate the fact that they gouge at the same time?

[threadbear]

So, if I have this right...WSJournal isn't to be trusted but Oil corporation's are considered a reliable source of information, regarding gouging?

[threadbear]

Ralph Nadar--Counterpunch 2006

Back in the Sixties, here is what Congress would probably have done in a similar situation: Impose an excess profits tax and investigate and subpoena oil company records to determine the kinds of parallel prices, restricted refinery outputs (the industry has closed scores of refineries in the past 40 years) and mergers that warrant tough antitrust prosecution. Never would the Congress of those years have tolerated the merger of the number one and number two giants in the oil industry Exxon and Mobil companies

http://www.counterpunch.org/nader07292006.html

[Roccland]

link

$this->bbcode_second_pass_quote('', 'L')ast Update: 1:45 PM ET Aug 10, 2007


SAN FRANCISCO, Aug 10, 2007 (PrimeNewswire via COMTEX) -- Liner Yankelevitz Sunshine & Regenstreif LLP ("LYS&R") has commenced an investigation relating to Countrywide Financial Corporation ("Countrywide" or the "Company") and potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Countrywide by the Countrywide Financial Corporation 401(k) Savings and Investment Plan (the "Plan").

[highlander]

We will have to wait and see how this plays out, but watch for the golden parachutes and the rank and file holding the bag, as usual.

[joewp]

Recently I've been hearing stuff about a so-called "Enron Loophole" that supposedly exempted energy markets from federal oversight. There's a web site, and a bill before Congress that's supposed to "close" this "loop hole".

$this->bbcode_second_pass_quote('Close the Enron Loophole', 'I')n 2000, Enron lobbyists seeking to exempt energy commodity trading from federal oversight were successful in passing the “Enron Loophole.” Virtually overnight, the loophole freed certain energy trading platforms (upon which a majority of such trades now occur) from federal oversight requirements, opening the door to excessive speculation and energy price manipulation. While Enron is long gone, its legacy remains. These new unregulated “dark markets” are now the dominate energy trading environment; resembling the Wild West more than Wall Street. Congress should pass the “Close the Enron Loophole Act” and bring the rule of law back to the energy markets.

[joewp]

Sorry to bump this, but does anybody know if there is some loophole in the law that allows for "dark markets"? Some people are saying this is the reason for high oil prices, and I'd like to bust this bubble, but I'm not that familiar with the securities laws to understand what this proposed bill would do or not do.