KO tackles the "Enronification" of oil prices

I defy you to watch this and not get angry. A report aired last night on Countdown with Keith Olbermann about the Enronification (Manipulation) of the price of oil. This is a good old-fashioned piece of journalism, which we get appallingly too little of these days.

What's more, the connection to McCain is pretty damning. I watched this with a critical eye, and of course I'm not suggesting that it's all McCain's fault, or anything even close to that. However, it appears that there are some pretty clear-cut connections between former Sen. Phil Gramm, a McCain campaign adviser, and the mess that our commodities markets are in.

I've been writing it for days, and it's worth mentioning again - drilling is absolutely, positively NOT the answer to our energy problems. What's more, I think politicians like McCain and especially President Bush are using the current crisis as a very convenient excuse to try and open up our coasts and ANWR to oil and gas drilling. Even if this passes, and it had better not, it will take years for this oil to reach the market, and what's more, it will only prolong our addiction to oil.

It's pretty interesting to hear Bush and McCain complain that a new refinery hasn't been built in over 30 years. Mr. President, then why don't you tell your oil buddies to build one? Better yet, why doesn't Congress force Big Oil's hand? God only knows, the industry is getting enough taxpayer money, so demand action!

Despite generous contributions, it looks as if even McCain has to go with public sentiment and go against Big Oil, finally.

Jason Rosenbaum at The Seminal has written an excellent column about why drilling for more oil is a flat-out fraud.

What you can do:
The Sierra Club has an online petition out that you can sign about new drilling - sign it.

Better yet, contact your Congressional leaders and let them know that you won't stand for more drilling on our coasts, or in Alaska. Click Here to get your Congressional legislators' contact information. E-mail is good, but a quick phone call is better, and believe me, they pay attention. The Congressional Switchboard number is (202) 225-3121 - the operators are very helpful - give 'em your zip, and they'll connect you right away.