McHenry Supports "Enron Loophole"

Today Congressman Patrick McHenry voted against providing Western North Carolina families with relief from high gas prices. Congressman McHenry voted against H.R. 6604, the Commodity Market Transparency and Accountability Act, which would crack down on excessive energy speculation that artificially drives up the cost of a barrel of oil.

Congressman McHenry, who has received $58,000 in campaign contributions from the energy industry, blocked a bill that would close the "Enron Loophole" that allows energy futures trading to avoid oversight by the Commodity Futures Trading Commission. The bill that Congressman McHenry voted against, which 61 Republicans supported, would also strengthen enforcement to prevent energy markets from being manipulated and to prosecute fraud.

"Instead of voting for a bipartisan plan to give Western North Carolina families a break at the pump, Congressman McHenry supported energy speculators," said Johnson. "In Congress, I will always take the side of our working families, not Big Oil and Wall Street."