Your Government At Work

Wonk Room » House Conservatives Employ DeLay-Style Tactics To Kill Legislation That Would Rein In Oil Profiteers: "Fadel Gheit, Managing Director and Senior Oil Analyst, Oppenheimer & Company testified before the House Energy and Commerce Committee:

I believe the surge in crude oil price, which more than doubled in the last 12 months, was mainly due to excessive speculation and not due to an unexpected shift in market fundamentals.

During the alloted time for voting, 291 members cast “yes” votes – more than enough to pass the bill. Then Minority Leader John Boehner (R-OH), Whip Roy Blunt (R-MO) and their minions went to work. Thirteen Republicans flipped and joined the 16 Democrats and 122 Republicans already in opposition. Final result: the bill failed, and profiteers will continue to drive up oil prices."