[MrBean]

I guess this explaines why US public has even less faith in Congress (11% positive view) than Bush (23%).

Only collective stupidity can beat Bush stupidity.

[manu]

Looks like the camps will open up in a few weeks.

[emersonbiggins]

Next stop: price fixing, then shortages (of oil, food, metals, etc.). End of the line: Mad Max.

Everything is moving right on schedule, even a little ahead of time.

U.S. Congress could ban speculators from commodities
Bloomberg News
Published: May 21, 2008

WASHINGTON: The chairman of a Senate oversight committee has said he is considering legislation to place limits on large institutional investors in commodities markets, which have posted record prices this year in agricultural products and oil.

The legislation would be aimed at speculators and other investors who use commodities as a way to hedge against swings in other investment instruments like stocks and the dollar, said Joseph Lieberman, chairman of the Senate Homeland Security and Government Affairs Committee, at a hearing Tuesday.

Crude oil reached $132.25 a barrel Wednesday, the highest price ever, and it has almost doubled in the past 12 months. Wheat, corn, soybeans and rice have all set record highs this year on the Chicago Board of Trade, spurring food inflation. The Reuters/Jefferies CRB index of 19 commodities surged 31 percent in the year that ended April 30.

"We may need to limit the opportunity people have to maximize their profits because a lot of the rest of us are paying through the nose, including some who can't afford it," said Lieberman, Independent of Connecticut.

The plunging value of the dollar, the U.S. housing crisis and widespread problems in the banking sector have led investors away from traditional instruments and toward commodities, witnesses said.
...

Senator Claire McCaskill, Democrat of Missouri, said the CFTC might be failing to adequately regulate this speculative investing and tighter regulations might be needed.

"The people of America are about to pick up pitchforks" as rising food costs pinch consumer budgets, she said.

...

International Herald-Tribune

[Plantagenet]

The people in Congress are so unbelievably stupid. The democrats running Congress now just don't understand that oil and other commodities today are priced in the GLOBAL market.

Nothing the US can do will stop a Chinese buyer and an Indian buyer and a British buyer and a German buyer from bidding on the same deliverery of oil. And the highest bidder will win.

Essentially every drop of oil that is sold today is quickly CONSUMED. Its being sold at the market price. There is no hoarding.

[roccman]

Agreed EB.

Dantes said it the best it could be said yesterday.

See signature line below.

[EnergyUnlimited]

It seems that we are now gathering evidence that US congressmen are stupid.

However it also seems that Democrats are more stupid than Republicans are.

If you observe current performance of US Congress, then G. W. Bush appears to be sound, reasonable and trustwordy man.

Well, Americans,
G. W. Bush is your last hope

[FreedomSlave]

It seems that we are now gathering evidence that US congressmen are stupid.

However it also seems that Democrats are more stupid than Republicans are.

If you observe current performance of US Congress, then G. W. Bush appears to be sound, reasonable and trustwordy man.

Well, Americans,
G. W. Bush is your last hope

Hope for what exactly? ?

More wars of aggression that deplete our resources, including military, energy, and human, at a faster pace?

Nuclear war?

Runaway global warming that will annihilate whatever slim chances the survivors of Peak Oil might have to carry on the human species?

I hope your statement was meant as sarcasm, because if you're serious, you're dumb as dog shit, too. And then you may be qualified to run for a seat in the House.

[Clouseau2]

It seems that we are now gathering evidence that US congressmen are stupid.

However it also seems that Democrats are more stupid than Republicans are.

If you observe current performance of US Congress, then G. W. Bush appears to be sound, reasonable and trustwordy man.

Well, Americans,
G. W. Bush is your last hope

I was thinking the same thing. Hillary and McCain are desperately trying to outstupid Congress and Bush is the only one talking sense.

Well, the cynic in me says that Bush has 142 days left in his political career and the only lies he has to keep telling are the ones that will keep him out of jail due to war crimes. Congress/McCain/Hillary have to keep lying and trying to make it seem like they are doing something about these darn gas prices even if it's totally and completely stupid -- gas tax holiday? Stop filling the SPR? Uh huh $2/gallon gas here we come!

Hey, how about we mandate we get 40 MPH like Japan and Europe? With 40% of the world's gasoline demand I'll bet that would affect gas prices!

[Clouseau2]

Um, I meant 40 MPG

[EnergyUnlimited]

It seems that we are now gathering evidence that US congressmen are stupid.

However it also seems that Democrats are more stupid than Republicans are.

If you observe current performance of US Congress, then G. W. Bush appears to be sound, reasonable and trustwordy man.

Well, Americans,
G. W. Bush is your last hope

Hope for what exactly? ?

More wars of aggression that deplete our resources, including military, energy, and human, at a faster pace?

Nuclear war?

Runaway global warming that will annihilate whatever slim chances the survivors of Peak Oil might have to carry on the human species?

I hope your statement was meant as sarcasm, because if you're serious, you're dumb as dog shit, too. And then you may be qualified to run for a seat in the House.

1. G. W. Bush is one of very few major politicians in the US, who appears to openly admit possibility of PO right now.

2. My statement was cynical a bit, but not a sarcasm - current performance of Congress and Democrats in particular demonstrates that they are rather clueless in respect of oil demand/supply issues.

3. It is a sad truth that US will engage in more aggression to secure necessary oil, whoever rules, Bush... Obama does not matter, and regardless of your or my wishes.

4. It is not up to US president to declare atomic war.
He is only a figurehead, who would confirm that such a war have been launched.

5. Runaway global warming is already underway and Democrats or G. W. Bush cannot stop it, regardless what they do or not do.

Base on current performance, it seems plausible that facing mounting consequences of runaway GW, Democrats will decide to take a legal action against someone for it and claim compensations.

[Plantagenet]

It may be that the democrats in Congress are not really as stupid as they seem, but are just playing politics with the energy problem.

We assume the democrats want to do what best for the US. But what they really want is to do whats best for the democratic party.

Democrats think oil companies support republicans in elections, and democrats use big bad oil companies as "bogeymen" to scare the public and get them to vote for democrats.

If democrats see oil companies as being part of the republican coalition, the last thing democrats are going to do is help oil companies.

Maybe the dems aren't being stupid....maybe they are incapable of doing anything that might help oil companies for political reasons.

[roccman]

I can't believe we still attempt to make distinctions among political parties.

Amazing

[frankthetank]

Bush Jr. may be dumb, but Sr. is very smart. Congress is full of talking heads who will say anything to get back in office. There are exceptions (my owns states Sen. Russ Feingold )

[seldom_seen]

No this isn't from The Onion. It's not April 1st. I checked. As far as I can tell this is actual real news:

House passes bill to sue OPEC over oil prices

By Tom Doggett

WASHINGTON (Reuters) - The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.

"This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities," said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.

http://www.reuters.com/article/wtMostRe ... 3020080520

This type of story is a good reminder that you're "on your own" out there folks. There is no benevolent, intelligent, "they" that's going to pull your arse out of the coming fire.

[mattduke]

imbeciles

[sicophiliac]

Can we the American people sue the House of Representatives for incompetence and negligence on the issues of energy depletion and peak oil ?

[SILENTTODD]

Maybe the European Union can sue the United States for using twice the amount of oil per capita as European's do?

[Captain_Meh]

Meh, I'm never surprised by any stupidity originating from the House. After all, the House was always meant to directly reflect the will of the herd, and act as an intermediary between them and the anointed, more isolated collection of intellectuals known as the Senate.

Of course, that's not to say that the Senate is absent its moments. Frist's summary diagnosis of Terry Shiavo from the Senate floor comes to mind.

[jbrovont]

Good greif. Can we um, fire these guys already?

Seriously though, how about a vote of no-confidence or a recall?
To the rest of the world I'd just like to say - please try to believe that not everyone on this side of the pond is this stupid. Please?

No this isn't from The Onion. It's not April 1st. I checked. As far as I can tell this is actual real news:

House passes bill to sue OPEC over oil prices

By Tom Doggett

WASHINGTON (Reuters) - The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.

"This bill guarantees that oil prices will reflect supply and demand economic rules, instead of wildly speculative and perhaps illegal activities," said Democratic Rep. Steve Kagen of Wisconsin, who sponsored the legislation.

http://www.reuters.com/article/wtMostRe ... 3020080520

This type of story is a good reminder that you're "on your own" out there folks. There is no benevolent, intelligent, "they" that's going to pull your arse out of the coming fire.

[truecougarblue]

Does being elected to congress actually mutate ones DNA and tunr one into a thieving bastard, or is that quality a prerequisite for the job itself?

Dod, McCain, etc. The examples are numerous. Is it impossible for an honest man (or woman) to get elected and stay there?