Today’s Loser: Exxon CEO has Misfortune of Facing Off Against Cantwell

May 12, 2011

Publicola – After her now-famous inquisitions of Obama’s treasury secretary Tim Geithner, it’s hardly surprising that Sen. Maria Cantwell (D-WA), who has a knack for blending a populist sensibility with a wonky command of the facts, grilled oil executives today at a senate finance committee hearing.

While the hearing was actually about a headline issue (oil industry subsidies), Cantwell took the opportunity to dig into her big issue: a proposal to rein in speculation in oil futures and energy commodity markets.

(Cantwell sent a letter to the Commodity Futures Trading Commission yesterday demanding that the CFTC “take decisive action toward meeting its statutory deadline to implement new rules to protect consumers from excessive speculation and possibly manipulation in the energy futures and swaps markets.”)

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As one of the most beautiful states in the union–and one of the richest in natural resources–Washington has a special interest in energy and environmental policy. And Maria has fought hard to uphold the state’s conservation tradition, while also working to bring our energy policy into the 21st century.

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