Oil Prices Spike Again

Thanks to Mick Gallagher.
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Oil Prices Spike Again
Date: Mon, 22 Sep 2008 21:26:01 -0400 (EDT)

Dear Friends of the Heart,

Last Thursday, the House of Representatives acted to curb excessive speculation, but in the absence of any indication that the Senate will act, prices have spiked. The largest one-day price increase in NYMEX history occurred today. Although we recognize the impact of the financial crisis on Wall Street, the weak dollar and the aftermath of Hurricane Ike, this unprecedented 16% one date jump also reflects the impact of excessive energy speculation. Reversing recent price decreases, oil peaked at nearly $130 a barrel, closing at $120.92 a barrel reflecting the impact of excessive energy speculation.

The market's extreme volatility suggests that speculators who withdrew tens of billions of dollars from the energy markets when Congress threatened to tighten oversight over excessive and harmful speculation breathed a sigh of relief last week when action in the Senate seemed unlikely, and returned to the energy markets in full force today.

We need a bipartisan approach to a national energy policy. Congress must pass a comprehensive energy plan (Send your Senators a message: http://www.stopoilspeculationnow.com/) or all Americans will pay the price as oil prices return to or exceed this summer's record levels.

Sincerely,

Coalition to Stop Oil Speculation Now

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Stop Oil Speculation Now

Thanks to Mick Gallagher.
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Subject: Rep. Michael Turner left Washington for vacation without
addressing sky high oil prices
From: "Stop Oil Speculation Now" info@stopoilspeculationnow.com

Dear Friends of the Heart,

Because Americans demanded that Congress address the energy crisis, both the House and Senate debated the issue in July. But they didn't get the job done. In the end, Congress has done nothing to bring down the price of oil and gas. They went home for August recess without passing a bill that would end abuses by speculators in oil futures markets and increase production.

But it gets even worse: Rep. Michael Turner actually switched votes at the last minute and killed a bill to limit excessive speculation just days before Congress went home for August. That's right: Thirteen Members of the House of Representatives, including Rep. Michael Turner, switched their votes from yes to no and left Washington without addressing the top challenge facing the nation: sky high oil prices. They changed their vote to play partisan politics and try to make the other party look bad just to gain an advantage in this fall's elections.

The bottom line is that Rep. Michael Turner chose politics over people.

You have already sent e-mails to Congress demanding action on oil prices. Your voice has made a difference in this fight! But we need your help again. Rep. Michael Turner is home right now for the August recess; and it's important that you and your neighbors keep asking tough questions about politics and oil prices. Will you take a moment to call the local district office of Rep. Michael Turner and ask "Why did you switch your vote?" and "Where's the leadership?" and "Where's the bill?"

The local phone number for the district office is (937) 225-2843 and
click here for talking points and to let us know that you called:
http://capwiz.com/sosnow/utr/1/NCITJBZAXR/GQRKJCFTVT/2299042446

Thanks for all of your efforts to keep the pressure on Congress to address the energy crises.

Sincerely,

The Coalition to Stop Oil Speculation Now

P.S. A phone call to the district office is the most effective way to get your official's attention while he's home on recess. If you would prefer to send a note via email to the Washington office, click here:

http://capwiz.com/sosnow/utr/1/NCITJBZAXR/IVCLJCFTVU/2299042446

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