All Posts Tagged With: "Chuck Grassley"

Congress Is Finally Back, Price Of Oil Drops Again

Crude oil dropped to $105/bbl Monday, down $1.26.  After hours the price continued to fall, as of midnight it was hanging around $102/bbl.

Since hitting it’s high at 147.27 on July 11 (that’s still less than 2 months ago), the price has fallen almost 30%.  According to most Democrats, this would only be possible if actual cheaper domestically drilled oil were available to put into the system immediately, not some years into the future.  Strange as it may seem, it looks like other factors, such as the continued growth in the public pressure on Congress to act and open up domestic drilling, may also influence prices.

Of course, you aren’t required to be an economist to be a member of Congress.  The problem appears …


What A Week: Energy

The Republican Protest of the No-Vote Vacation continues today, with no end in sight.  CSPAN showed the following press conference (video courtesy John Boehner’s office) featuring House Minority Leader John Boehner (Ohio), Mike Pence (Indiana), and Jon Porter (Nevada).  Excellent, concise, brought a solid message back from their constituents, and continuing the push forward.  Worth the 13 minutes to watch:

The best part of the message was the encouragement to all of us to call our congressmen.  Call (202)224-2121 and ask to be connected to your congressman/woman. Call and speak to Pelosi as well.  Let your them all know you want them back to work in Washington right now to get this energy legislation voted on.  And let them know that if they don’t vote


The Housing Bill Is Law

As expected, President Bush signed HR 3221 into law this morning, making billions of federal dollars available to home owners, shoring up Fannie Mae and Freddie Mac, and providing closer oversight of the financial aspects of home ownership to the Administration and Congress.

What a shame.

After speaking with a good friend of mine that is a CPA, the tax incentives, particularly the $7,500 tax credit (a topic which is burning up the search engines at this time), are going to make life harder for tax preparers, tax payers, and probably increase the cost of running the IRS.  As I’ve said before, There are going to be a lot of problems keeping track of this. 

Plus, this is just an unfair competition with banks.  …


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