$4 Gas: “There Is No Justification” for High Prices, Says Fmr. Senator Dorgan

[steve2470]

http://finance.yahoo.com/blogs/daily-ticker/4-gas-no-justification-high-prices-says-fmr-160209651.html

As the price of oil trades near 2008-highs and the average price of gasoline hovers around $4 a gallon, world leaders are considering adding more supply to the market.

In recent days, the United States along with the United Kingdom, France and Japan have been in talks to ease the shock of rising oil and gas prices by releasing billions of emergency reserves onto the market. The laws of supply and demand dictate that when supply is great, prices should fall.

But the rise in the price for fuel is not an issue of supply and demand, says former Senator Byron Dorgan (D-ND), who helped shape the nation's energy policy as chairman the Senate Indian Affairs Committee and three subcommittees.

"There is no justification for the current gas prices. This is all about speculation by the people who are speculating on the price of oil and gas," he says. "We could shutdown excess speculation in commodity markets. This government should do that."

[Andy823]

1. Dorgan is right

It is all about the speculators, and it does need to be stopped, but who can stop them? Isn't it congress that has to pass a bill to stop this? If it is congress, then how do we get a bill passed when republicans will be voting NO to any bill that tries to stop them.

Of course it would be very smart for congress to start putting bills on the floor to stop speculators, and make every damned member of congress stand up and vote yes, stop the speculation, or NO leave them alone. Make this a major issue and keep on forcing votes till the people of this country start demanding congress do something. The only way to force republicans to vote to actually help the "people", not the corporate people, is for the voters to stop putting up with all their shit and make it clear they want action, either in congress, or at the polls come election time they will vote those who don't listen out of office.

[longship]

2. Saw him with Bill Moyers the other night

Brilliant! He should run for Senator again.

[Andy823]

3. I always liked Dorgan

He spoke his mind and I loved that about him. I to wish he would come back, but like many others I think he finally just got fed up with all the BS and nothing getting done.