What: All Issues : Government Checks on Corporate Power : Utility Industry : S. 14. Energy Policy/Vote to Table (Kill) an Amendment Designed to Prevent Corporate Manipulation of the Energy Market. (2003 senate Roll Call 218)
 Who: All Members
[POW!]
 

To find out how your Members of Congress voted on this bill, use the form on the right.

S. 14. Energy Policy/Vote to Table (Kill) an Amendment Designed to Prevent Corporate Manipulation of the Energy Market.
senate Roll Call 218     Jun 11, 2003
Progressive Position:
Nay
Progressive Result:
Loss

Among other corporate misdeeds, the former energy company Enron was found to have manipulated the market for energy derivatives-which precipitated an energy crisis in Western States-by purchasing from West-Coast energy producers most of the available energy for the summer months of 2000 and then restricting energy supplies to consumers to artificially increase prices and amass profits (energy derivatives refer to energy that is privately bought and sold among energy companies). In an effort to prevent similar energy market manipulations by energy companies in the future, Senator Dianne Feinstein (D-CA) proposed an amendment to energy legislation which would have provided the Commodity Futures Trading Commission-an independent federal agency responsible for protecting consumers-with the power to oversee all transactions involving energy derivatives among energy companies. Progressives supported Feinstein's amendment as a way to protect energy consumers from market manipulation by energy companies. During debate Feinstein's amendment, Senator Pete Domenici (R-NM) motioned to table (or strike down) the measure. Progressives voted against the tabling motion based on their support for Feinstein's proposal but motion passed 55-44 and Feinstein's amendment was defeated.

Issue Areas:

Find your Member of
Congress' votes

Select by Name