Oil

June 23, 2008 -- When John McCain is in California this week he will no doubt try to tie himself to Gov. Schwarzenegger and distance himself from President Bush. But when it comes to offshore drilling, an important issue to coastal states, like California, Senator McCain is on Bush's--not Schwarzenegger's--side.

When McCain announced last week he wanted to lift the moratorium on offshore drilling, President Bush and big oil were quick to side with him, even though the idea has been met with much criticism and would do nothing to solve our short-term energy crisis. Just as bad, Senator McCain himself campaigned against off-shore drilling in states like Oregon, Maine, and even California in the run-up to the 2000 election.    » read more »

June 23, 2008 -- After years of saying he opposed drilling in our coastal waters, Senator McCain changed his position and has embraced President Bush's vision for offshore drilling. On CBS's Face the Nation, McCain advisor Carly Fiorina tried to defend John McCain's decision to cave in to Big Oil.

Offshore oil rig: Photo by arbyreed (CC)    » read more »

June 20, 2008 -- This week John McCain reversed himself again, announcing that he now supports lifting the moratorium on off-shore drilling despite previously opposing such a plan to reverse decades of U.S. policy. McCain and President Bush stood behind the plan even though it does nothing to address current gas prices, it would take years to see a drop of oil from these leases, and oil industry execs already have thousands of untapped leases at their disposal.    » read more »

As President, Barack Obama will restore common-sense regulation to ease the impact of soaring gas prices

June 22, 2008 -- Chicago, IL - Senator Barack Obama today announced his plan to crack down on excessive energy speculation and fully close the "Enron Loophole" to ease the impact skyrocketing gas prices.

California gas prices, June, 2008: Photo by .pie (CC)    » read more »

Speech to Follow, Expand on Failed Bush Energy Policies

June 17, 2008 -- Washington, D.C.— Senator John McCain is slated to give a major policy address on energy issues later today in front of an audience of oil industry executives in Houston.

Yesterday Senator McCain called for lifting a nearly three decade old federal moratorium on drilling off of our coasts. "There are areas off our coasts that should be open to exploration and exploitation , and I hope we can take the first step by lifting the moratoria," said Senator McCain.

Yesterday’s Sierra Club response to Senator McCain’s announcement can be found here .

Statement of Carl Pope, Sierra Club Executive Director    » read more »

New Radio Ad Calls for Support of Clean Energy Legislation

June 16, 2008 -- Washington, DC: In remarks today Senator McCain indicated that in his speech tomorrow in the heart of the fossil fuel industry he will focus not on clean energy and fighting global warming but instead on opening America’s coasts to drilling.

“Tomorrow, I'll call for lifting the federal moratorium for states that choose to permit exploration. I think that this -- and perhaps providing additional incentives for states to permit exploration off their coasts --- would be very helpful in the short term in resolving our energy crisis,” said McCain.

Statement of Carl Pope, Sierra Club Executive Director:    » read more »

June 17, 2008 -- During his campaign John McCain has tried to create distance from the Bush Administration by talking tough on the environment. But you just never know which John McCain you're going to get. Today, Senator McCain will cave to his friends in the oil and gas industries by declaring that he supports lifting the federal moratorium on drilling exploration, even though he supported the moratorium the last time he ran for president and has opposed drilling off the coast of places like Florida, North Carolina, Oregon, and Maine.    » read more »

June 17, 2008 -- While John McCain likes to talk tough about energy independence and renewable energy, John McCain today will cave in to his friends in the oil and gas industry. Despite supporting a moratorium on off-shore drilling during his last presidential campaign and opposing offshore drilling in places like Florida, North Carolina and Oregon, Senator McCain will call for the elimination of the moratorium during his remarks in Houston today.

Oil spill cleanup crew: Photo by ex.libris (CC)    » read more »

OPEC Operates Illegal Cartel Under International Trade Law

June 17, 2008 -- WASHINGTON, DC – Today, a coalition of eleven Senators led by Sen. Frank R. Lautenberg (D – NJ) called on the Bush Administration to take action in the World Trade Organization (WTO) against eight Petroleum Exporting Countries (OPEC) by ordering United States Trade Representative (USTR) Ambassador Susan Schwab to file a complaint with the WTO.

These eight countries, operating as an illegal cartel, have refused to increase production, reduced the supply of oil on the market and driven up the gas prices that consumers pay at the pump.    » read more »

June 17, 2008 -- WASHINGTON, D.C. - United States Senator Dick Durbin (D-IL) released the following statement today, after hearing the testimony of Walter Lukken, Chairman of the Commodity Futures Trading Commission’s (CFTC), before a joint hearing of Durbin’s Appropriations Subcommittee on Financial Services and General Government and the Senate Agriculture Committee.

“Increasing evidence shows that the run-up in crude oil prices and gasoline is being driven by larger trader banks, pension and hedge funds. Speculation may have as much, if not more, to do with high gas prices than any Saudi Sheik."    » read more »

June 17, 2008 -- WASHINGTON, DC – United States Senators Dick Durbin (D-IL) and Tom Harkin (D-IA) chaired a hearing today to investigate how excessive speculation in the oil market may be contributing to the historic run on oil and gas prices.

The hearing, held jointly before the Senate Appropriations Subcommittee on Financial Services and General Government and the Senate Committee on Agriculture, Nutrition, and Forestry, probed the Commodity Futures Trading Commission’s (CFTC) role in regulating the market and what tools and resources the agency needs to ensure it is able to be a robust market watchdog.    » read more »

Sends Letter to FTC Chairman about potential price gouging

June 17, 2008 -- WASHINGTON, DC - At a time when Pennsylvanians are faced with skyrocketing gas prices, U.S. Senator Bob Casey (D-PA) today sent a letter to William Kovacic, Chairman of the Federal Trade Commission (FTC) regarding the potential of price gouging and price manipulation.

“I hope that you and I can work together to give the FTC the tools it needs to investigate and help prosecute companies that are adopting questionable business strategies,” Senator Casey wrote. “The Unites States Congress and the FTC have an obligation to provide consumers with the assurance that whatever price they are paying at the pump, they can be certain they aren't being taken for a ride.”    » read more »

June 17, 2008 -- “There are some who believe that the only solution to our skyrocketing energy crisis is to drill, drill, and drill. And one of their primary targets is the Outer Continental Shelf.

Congress chose to protect these federal waters from oil exploitation in 1981. And Congress has voted to renew that ban every year since then.

Offshore oil drilling rig: Photo by Beau Wade (CC)

But today, these federal protections are under attack.

Let me be clear: lifting the moratoria is a false promise and an unnecessary risk.    » read more »

Seoul -- 17 June 2008 -- South Korea's biggest labor confederation says its members will go on strike, next month, to protest the policies of the country's president. The labor troubles heap new crisis on an administration facing mass street protests about trade with the United States.

The Korean Confederation of Trade Unions announced Tuesday it would conduct a nationwide general strike on July 2. And, KCTU president Lee Seok-haing says that is just the beginning.

Lee says after the strike, there will be several days of organized labor protests.

The KCTU is an umbrella union group for more than 600,000 members, working in nearly every sector of the country's economy.    » read more »

June 17, 2008 -- Connecticut Governor M. Jodi Rell today signed into law a bill that rolls back a planned increase in the state gas tax and opens the door to more gasoline stations offering customers a discount for making purchases with cash.

Senate Bill 1000, An Act Concerning Adjustments to Certain Petroleum Products Taxes, Petroleum Franchise Agreements, Gasoline Discounts for Consumers, Home Heating Oil and Propane Gas Contract Deposits and the Fuel Conservation Account, was passed during the special session last week.    » read more »