Obama calls for oil crackdown
With the cost of gas a top issue in the presidential campaign, Barack Obama on Sunday will announce a plan to crack down on oil speculation by tightening regulations on energy traders.
The announcement is further evidence that an Obama administration would take an activist, populist approach to regulating business.
Obama wants to close a loophole in federal law that exempts some energy traders from regulations that govern other exchange-traded commodities. Democrats call this “the Enron loophole” because it benefited the Houston energy-speculation firm that collapsed in an accounting scandal.
Link:Politico.com
