HELLER DEFENDS OIL SPECULATORS

Votes to Keep Enron Loophole Open

RENO, NV--In a move that will help keep oil and gas prices high, Dean Heller today voted against a measure to curb oil speculation and close the Enron Loophole.

The bill, The Commodity Market Transparency and Accountability Act (H.R. 6604), would have taken crucial steps to curb excessive speculation in the energy futures market in order to bring down gas prices.  The measure, which required a two-thirds vote to pass, failed 276-151, just 9 votes short.

The vote comes on the heels of Heller's refusal Thursday to support the release of oil from the Strategic Petroleum Reserve, which would have brought an immediate reduction to gas prices.  Gas prices instead rose Thursday on the news of the bill's failure by just 16 votes.

"Twice in one week, Dean Heller has failed to vote for a real solution to our gas price crisis," said Derby Campaign Manager David Mason.  "Pure speculation makes up a significant percentage of the price of oil, which translates directly to higher prices at the pump.  When Americans are struggling with $4 per gallon gas, we need leaders willing to work to end high gas prices.  In times like these, we just can't afford Dean Heller."

Jill Derby, a fourth-generation Nevadan, started life on her family’s Flying Flapjack Ranch in Lovelock and rural Nevada has shaped the values she holds today.  Derby is running for Congress to bring real change to Washington--to fulfill our promises made to veterans, forge a sensible energy plan, ensure access to health care for all Americans, and demand fiscal responsibility in government.  Her website is www.jillderby.com.

For Immediate Release

July 30, 2008

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