In the previous article, I asked you to contact your electeds and ask them to write legislation to curtail speculative profiteering. It has been brought to my attention that Senator Bill Nelson (D. Florida) is the sponsor of S.1598. The cosponsors are Senator Bernard Sanders (I.Vermont), Senator Richard Blumenthal (D. Connecticut) and Senator John D. Rockefeller (D. West Virginia). There is a companion bill in Congress, H.R. 3006 that is sponsored by Representative Peter Welch (D. Vermont). The cosponsor is Representative Rosa DeLauro (D. Connecticut).
Although I see loopholes, the Senate and House bills are a start at protecting us from what I feel is predatory investing. Please tell your Congressperson and Senator that you are fed up with speculators driving up the cost of living by bidding up the price of everyday essentials. Tell them that you want them to get those bills out of committee and passed. While you're at it, please thank the sponsors and cosponsors of those bills for standing up for us.
Republicans love to use the phrase “job creators” to justify their unconditional love for corporations and the rich. They worship at the altar of the “free” market and while they are on their knees, kiss the rear ends of all manner of greedy people including those who gamble on commodities and drive the prices of the everyday necessities of life up. They want to give these people, who would probably also be comfortable betting with a local bookie on a horse race or the outcome of a sports event free rein to place their bets on the price of essentials like food and gasoline with little or no interference from government.
Commodities traders are NOT job creators, they are job destroyers! Rising gas prices take money out of our pockets, money that could have been used to buy products that keep Americans employed instead of lining the pockets of greedy commodities speculators. Despite what the Republicans say, the real answer to high gas prices isn't “drill baby drill”, if that were the case, US oil companies wouldn't be exporting oil as they are now. The answer to high gas prices is regulate baby regulate! Write to your electeds and ask them to write laws that put speculative profiteering out of business.