Econ Club: It's about logic, not emotion.

Under the guise of Econ Club, I have sat in many of bars alongside peers and professors, attempting to solve the world’s problems with economic logic. Couched primarily in economic topics, attendees are encouraged to be blunt, using logic not opinion to discuss current events. It is because of the success of these meetings and encouragement from past participants that I am moving Econ Club into blog form. As such, post articles, comment on them and of course keep a refreshing beer nearby.

Wednesday, July 23, 2008

Oil market bill's future dim despite vote

WASHINGTON (AP) — The Senate voted 94-0 Tuesday to move ahead on legislation to curb speculation in oil markets. But any hope of bipartisanship to pass the bill is likely a mirage.
The Senate bill would require the Commodity Futures Trading Commission to set limits on trading in oil markets by investors and speculators and close a loophole that allows speculators trading on the London oil market to escape scrutiny by U.S. regulators

http://www.usatoday.com/money/industries/energy/2008-07-22-oilmarketbill_N.htm

This is an update on where some of the legislation stands for oil spectators, in addition to news on general energy legislation.

Honestly, it doesn't bother me there are some hold ups on legislation, at least this is preventing immediate restrictive policy from being implemented. My only concern is it creates risk not natural to the market.