August, 19 2011, 04:03pm EDT
CFTC Report Reveals Rampant Speculation in Oil Markets
Sen. Bernie Sanders offered the following statement after having reviewed a list of speculative oil traders responsible for the 2008 spike in oil prices. This list was compiled by the U.S. Commodity Futures Trading Commission (CFTC).
WASHINGTON
Sen. Bernie Sanders offered the following statement after having reviewed a list of speculative oil traders responsible for the 2008 spike in oil prices. This list was compiled by the U.S. Commodity Futures Trading Commission (CFTC).
"This report clearly shows that in the summer of 2008 when gas prices spiked to more than $4 a gallon, Goldman Sachs, Morgan Stanley, and other speculators on Wall Street dominated the crude oil futures market causing tremendous damage to the entire economy," Sanders said. "The CFTC has kept this information hidden from the American public for nearly three years. That is an outrage.
The American people have a right to know exactly who caused gas prices to skyrocket in 2008 and who is causing them to spike today. The CFTC claims they need more data to impose speculative position limits as required by Dodd-Frank. That is laughable. The American people need action to bring down gas and oil prices and they need it now, which is why I have introduced legislation with eight co-sponsors to do just that."
On June 15, 2011 Sen. Sanders introduced a bill titled the "End Excessive Oil Speculation Now Act of 2011", which would force the Chairman of the CFTC to impose strict limits on the amount of oil speculators can trade in the commodity and futures markets.
Excessive oil speculation is widely considered to have been a major contributor to high gas prices at the pump and unnecessary volatility in the oil commodities and futures markets. Sen. Sanders' bill currently has eight co-sponsors: Sens. Bill Nelson (D-Fla.), Richard Blumenthal (D-Conn.), Jeff Merkley (D-Ore.), Al Franken (D-Minn.), Sheldon Whitehouse (D-R.I.), Ben Cardin (D-MD), Barbara Mikulski (D-MD), and Jay Rockefeller (D-WV).
"We have a responsibility to do everything we can to lower gas prices so that they reflect the fundamentals of supply and demand and bring needed relief to the American people," Sanders said.
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With US Workers on the March, Southern States Take Aim at Unions
GOP leaders in the region are "truly astonished that workers might not trust their corporate overlords with their working conditions, pay, health, and retirement," said one critic.
Apr 26, 2024
Since six Southern Republican governors last week showed "how scared they are" of the United Auto Workers' U.S. organizing drive, Tennessee Volkswagen employees have voted to join the UAW while GOP policymakers across the region have ramped up attacks on unions.
The UAW launched "the largest organizing drive in modern American history" after securing improved contracts last year with a strike targeting the Big Three automakers—General Motors, Ford, and Stellantis. The ongoing campaign led to the "landslide" victory in Chattanooga last week, which union president Shawn Fain pointed to as proof that "you can't win in the South" isn't true.
The Tennessee win "is breaking the brains of Republicans in that region. They're truly astonished that workers might not trust their corporate overlords with their working conditions, pay, health, and retirement," Thom Hartmann wrote in a Friday opinion piece.
"The problem for Republicans is that unions represent a form of democracy in the workplace, and the GOP hates democracy as a matter of principle."
"The problem for Republicans is that unions represent a form of democracy in the workplace, and the GOP hates democracy as a matter of principle," he argued. "Republicans appear committed to politically dying on a number of hills that time has passed by. Their commitment to gutting voting rolls and restricting voting rights, their obsession with women’s reproductive abilities, and their hatred of regulations and democracy in the workplace are increasingly seen by average American voters as out-of-touch and out-of-date."
Just before voting began in Chattanooga, GOP Govs. Kay Ivey of Alabama, Brian Kemp of Georgia, Tate Reeves of Mississippi, Henry McMaster of South Carolina, Bill Lee of Tennessee, and Greg Abbott of Texas claimed that "unionization would certainly put our states' jobs in jeopardy" and the UAW is "making big promises to our constituents that they can't deliver on."
The next nationally watched UAW vote is scheduled for May 13-17 at a Mercedes-Benz plant in Vance, Alabama.
"Workers at our plant are ready for this moment," Mercedes employee Jeremy Kimbrell said last week. "We are ready to vote yes because we are ready to win our fair share. We are going to end the Alabama discount and replace it with what our state actually needs. Workers sticking together and sticking by our community."
As workers gear up for the election, the Alabama House of Representatives on Tuesday voted 72-30 for a bill that would withhold future economic incentive money from companies that voluntarily recognize unions rather than holding secret ballots. The state Senate previously passed a version of the legislation but now must consider it with the lower chamber's amendments.
The Associated Pressnoted that "Georgia Gov. Brian Kemp signed similar legislation on Monday" and that Tennessee already has one on the books.
With his signature on Senate Bill 362, "Kemp's aim is to thwart future organizing attempts by workers at automotive plants in Georgia, such as those operated by Hyundai Motor Group," according toThe Atlanta Journal-Constitution.
As the newspaper detailed:
Georgia has been a right-to-work state since 1947, when Congress passed the Taft-Hartley Act, allowing workers to refuse to join a union or pay dues, even though they may benefit from contracts negotiated by a union with their employer. Just 5.4% of workers in the state belonged to a union in 2023, according to the U.S. Bureau of Labor Statistics.
But the National Labor Relations Act of 1935, also known as the Wagner Act, protects the right for workers to form a union and collectively bargain for better wages and working conditions.
The new Georgia law is expected to be challenged in court, labor experts have said.
Acting U.S. Labor Secretary Julie Su told the AP on Thursday that she is not sure if the department will challenge the laws, given the National Labor Relations Board's responsibilities, but she stressed that "there are federal standards beneath which no worker should have to live and work."
In terms of joining a union, "that choice belongs to the worker, free from intervention, either by the employer or by politicians, free from retaliation and threats," Su said. "And what we are seeing is that workers who were thought to be too vulnerable to assert that right are doing it, and they're doing it here in the South."
The U.S. labor chief also slammed "unacceptable" union-busting efforts by companies and suggested that protecting the right to unionize is part of President Joe Biden's "promise to center workers in the economy."
"He has said he's the most pro-worker, pro-union president in history, and we are going to make good on that promise. And that includes making sure that workers have the right to join a union," Su said of the president.
Biden's commitment to workers and unionizing rights has caught the attention of GOP leaders. The governors' joint statement nodded to the UAW's January endorsement of the president, who is seeking reelection in November, and South Carolina's leader attacked the administration earlier this year.
During his January State of the State speech, McMaster declared that "we will not let our state's economy suffer or become collateral damage as labor unions seek to consume new jobs and conscript new dues-paying members. And we will not allow the Biden administration's pro-union policies to chip away at South Carolina's sovereign interests. We will fight. All the way to the gates of hell. And we will win."
News From the Statesreported Friday that "of all the foreign-owned automakers in South Carolina, BMW would be the most likely mark in the near term if enough of its workers show interest. The massive plant near Greer—the manufacturer's only U.S. production facility—employs some 11,000 people, twice the number of workers at Volkswagen in Tennessee and Mercedes in Alabama. It has operated in the Upstate for nearly 30 years and is in the process of adding electric vehicle lines."
However, a UAW spokesperson told the outlet that they don't yet have the numbers for the BMW and Volvo facilities in the state, and Marick Masters, a Wayne State University professor who studies the union, said: "I don't think they're writing anybody off but they know the history of unionization. And I would say South Carolina is a very inhospitable place for unions."
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Leaked USAID Document Concludes Israel Impeded Gaza Aid
"Biden is breaking the law and defying his own agencies to fund Israeli war crimes," said one observer.
Apr 26, 2024
Officials at the United States Agency for International Development concluded in a confidential memo to Secretary of State Antony Blinken that Israel is violating a White House directive by blocking humanitarian aid from entering the besieged Gaza Strip during its ongoing genocidal assault on the Palestinian enclave, according to a report published Friday.
Devex's Colum Lynch reported that the confidential communication—entitled Famine Inevitable, Changes Could Reduce But Not Stop Widespread Civilian Deaths—states that USAID "assesses the government of Israel (GOI) does not currently demonstrate necessary compliance" with a February 8 White House memo requiring the secretary of state to obtain assurances from governments receiving U.S. military aid that such assistance is used in compliance with human rights law.
The USAID memo raises "serious concerns that the killing of nearly 32,000 people, of which the GOI itself assesses roughly two-thirds are civilians, may well amount to a violation of the international humanitarian law." That figure is now over 34,300 deaths, with at least 77,293 people injured and over 11,000 others missing and presumed buried beneath the rubble of hundreds of thousands of bombed-out buildings.
The document states that the "deterioration of food security and nutrition in Gaza is unprecedented in modern history, exponentially outpacing in six months the long-term declines that led to the only other two famine declarations in the 21st century: Somalia (2011) and South Sudan (2017)."
"Adequate health, nutrition, and water, sanitation, and hygiene... an immediate cessation of hostilities, and sustained humanitarian access will be required," the memo continues. "Absent these conditions, all available evidence indicates rising acute food insecurity, malnutrition, and disease will lead to a rapid increase in non-trauma deaths, particularly among women, children, the elderly, and persons with disabilities."
Biden's February directive states that "the recipient country will facilitate and not arbitrarily deny, restrict, or otherwise impede, directly or indirectly, the transport or delivery of United States humanitarian assistance."
Not only has Israel blocked aid from entering Gaza as children there die of malnutrition and dehydration and millions teeter on the brink of starvation, Israeli troops have attacked Palestinian and international humanitarian workers attempting to deliver aid and desperate Gazans trying to receive it.
Observers say these attacks—which include the infamous " Flour Massacre" and the drone strikes that killed seven World Central Kitchen staffers—were deliberate, which Israel denies.
The blocking of humanitarian aid is a key component of the International Court of Justice (ICJ) genocide case against Israel brought by South Africa and supported by more than 30 nations. On January 26, the ICJ issued a preliminary ruling that found Israel is "plausibly" committing genocide in Gaza and ordered it to prevent future genocidal acts. Critics argue Israel has ignored the order.
According to Lynch:
The paper was cleared by 10 USAID officials, underscoring its widespread backing of the findings. But Sonali Korde, the agency's deputy assistant administrator and head of the Bureau for Humanitarian Affairs, signed off on the document with the phrase INFO, bureaucratic shorthand for passing it up the chain of command without committing to its conclusions. Blinken is required to formally certify to Congress in the coming weeks whether Israel complies with the White House determination.
Last month, the Biden administration
said that Israel's use of U.S.-supplied weapons complies with international law, an assessment lambasted by many observers including Palestinian American political analyst Yousef Munayyer, who called it "absolutely scandalous."
Palestinian and human rights advocates and more than two dozen congressional Democrats have challenged the Biden administration's claim that Israel is using U.S.-supplied weapons in compliance with domestic and international law, pointing to the use of 2,000-pound bombs—which can wipe out an entire city block—in densely populated areas and other potentially illegal actions. In December, Biden acknowledged that Israel's bombing was "indiscriminate."
Critics including progressive members of Congress have called for an arms embargo on Israel. However, Biden this week signed the biggest-ever U.S. aid package for Israel and has
repeatedly bypassed Congress to fast-track armed assistance to the key ally—which already receives nearly $4 billion in U.S. military aid annually. The Biden administration has also quietly approved more than 100 arms sales to Israel since October.
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Violent Arrest of Emory Professor Spotlights Brutality of Police Crackdown on Campus Protests
"To sustain this level of blind support for Israel, the U.S. must erode its own democracy," said one foreign policy expert. "And that is what we see happening on U.S. campuses now."
Apr 26, 2024
Emory University economics professor Caroline Fohlin approached several police officers who were holding a student down on the ground on Thursday and demanded an explanation—but by the end of the day videos of her own arrest became some of the most widely circulated images of the rapidly spreading anti-war movement on college campuses across the U.S.
As she knelt down to ask the university officers, "What are you doing?" another law enforcement agent grabbed her arm and pushed her away before repeatedly ordering her to "get on the ground."
"Stop it!" Fohlin yelled before the officer pushed her to the ground and called for more police to help subdue her.
Fohlin then screamed, "Oh my God!" as the police pushed her down and told the police that she was a professor at the university as they held her on the ground.
Fohlin's arrest—after which she was detained for 11 hours and then charged with "battery of a police officer"—came a week after Columbia University suspended more than 100 students for setting up an encampment in solidarity with Gaza, where more than 34,000 Palestinians have been killed by the U.S.-backed Israel Defense Forces (IDF) since October, and allowed police to arrest them. The mass arrests only served to galvanize students and faculty at Columbia and at dozens of other schools, with more than 400 peoplebeing detained so far.
The American Association of University Professors called the arrest "antithetical to the mission of higher education."
"Our institutions exist to foster robust exchanges of ideas and open dialogue in service of knowledge and understanding," said the group. "Sometimes that includes open dissent. Peaceful campus protests should never be met with violence."
Foreign policy expert Trita Parsi suggested that Fohlin's arrest was among the on-campus incidents that have strained the Democratic Party's argument that "democracy is on the ballot in November."
"To sustain this level of blind support for Israel, the U.S. must erode its own democracy. And that is what we see happening on U.S. campuses now," said Parsi, executive vice president of the Quincy Institute for Responsible Statecraft, sharing a video of police tasing an Emory student who was already being held down on the ground.
Emil' Keme, a professor of English and Indigenous studies at Emory, toldDemocracy Now! on Friday that the scene on campus resembled "a war zone," especially after university and Atlanta police deployed tear gas and rubber bullets to disperse protesters.
"I started feeling the tear gas, and I held arms with some people," he said. "We were being pushed back out of the encampment. And the student I was holding arms with, she was then arrested and the next thing I knew I was on the floor and I was being arrested."
Writer Abdullah Shihipar said Emory president Gregory Fenves—and all university administrators who have allowed the arrest of students who have peacefully protested, including several who have unilaterally altered school codes in order to ban protests—should resign.
"It has been a disgusting and embarrassing week for higher education," said Shihipar.
The crackdown on Emory students and faculty came a day after Texas state troopers descended on the University of Texas at Austin campus, some on horseback, and clamped down on a student walkout there, arresting more than 50 protesters.
Also on Thursday, students at Indiana University and Ohio State University (OSU)—where more than 30 and a dozen students were arrested, respectively—reported seeing snipers stationed on the rooftops of campus buildings, which an Ohio State representative denied.
The Biden administration has not directly addressed the protests or their demands since Monday, when President Joe Biden suggested the nationwide student uprising is "antisemitic."
"The use of state violence against peaceful protestors is unacceptable," said Sara Haghdoosti, executive director of Win Without War. "Police batons deployed against students calling for peace in Gaza are not a source of safety on campus, nor are they a bulwark against antisemitism. They hurt people, impinge on fundamental liberties, and serve an extreme right-wing agenda that threatens Jews, Muslims, and the right to protest across the country. University leaders and government officials must take steps to protect students exercising their right to protest, not enlist police to attack them."
"Antisemitism and anti-Muslim bigotry are on the rise and serious issues nationwide, including on college campuses," continued Haghdoosti. "The people endangered by these scourges deserve better than to be the targets of cynical political ploys or to be used as excuses for violent repression. No one is made safer by police violence, and politicians who say otherwise are only attempting to sow division for their own reprehensible ends. What we need from our leaders right now is to de-escalate, permit protests, and not allow state violence against people exercising their fundamental rights."
Irene Khan, the United Nations special rapporteur on the promotion and protection of the right to freedom of opinion and expression, said Thursday that the protests spreading across the U.S. and internationally are a sign that "the Gaza crisis is truly becoming a global crisis of the freedom of expression."
"Legitimate speech must be protected," Khan said Thursday, "but, unfortunately, there is a hysteria that is taking hold in the U.S."
"We must not mix [antisemitism] up with criticism of Israel as a political entity, as a state," she added. "Criticizing Israel is perfectly legitimate under international law."
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