News June 1
Senator Sanders
Oil Prices Soar “There is mounting evidence that excessive speculation is the causing oil prices to soar,” Sen. Bernie Sanders wrote on Politico’s
Arena. Oil prices rose to near $68 a barrel Monday, hitting a new high
for the year. Sanders urged the Commodity Futures Trading Commission to
protect consumers, the Times Argus and Congress Daily reported. Meanwhile, Senate Agriculture Committee Chairman Tom Harkin
set a June 4 hearing to “explore needed regulatory reform of
derivatives markets,” possibly including limits on speculation, the Bureau of National Affairs reported. LINK, LINK and LINK
Energy The Senate Energy and Natural Resources Committee appears on the verge
of passing an energy bill that makes good on Democrats’ pledge to tilt
the energy balance heavily in favor of renewables, but even supporters,
including Sen. Sanders, complained that the plan was “woefully
inadequate,” Roll Call reported. LINK
Federal Employees Gov. Douglas presented the Vermont Federal Employee of the Year award at a recognition event in
International
Air France Jet Disappears An
Air France passenger jet traveling from Rio de Janeiro to Paris
disappeared during an electrical storm with heavy turbulence on Sunday
evening, and officials said that a search had begun for the wreckage
around a small island off the Brazilian coast. LINK
National
G.M. Files for Bankruptcy General Motors this morning filed for bankruptcy, becoming the
country's second automaker after Chrysler to go under in just over a
month. The bankruptcy, filed in
Banks Dig in for Fight Against Rules As the financial crisis entered one of its darkest phases in October, a
handful of the nation’s largest banks began holding daily telephone
sessions. Murmurs were already emanating from
Congress Returns to a Full Plate Congress returns this week to face an agenda stuffed with difficult,
high-profile issues that will test the ability of Democrats and the
White House to deliver health care, energy and spending legislation
while simultaneously contending with a Supreme Court nomination, The New York Times reported. LINK
Health Care First
up as Congress returns from a weeklong recess: Sen. Edward M. Kennedy,
partially sidelined by cancer, is convening his health committee's
Democrats on Tuesday to begin weighing his proposals to extend health
care to all. Later in the week, the tax-writing Senate Finance
Committee meets behind closed doors to work on legislation to achieve
the same goal. Jim Manley, spokesman for Senate Majority Leader Harry
Reid, said "both committees are getting ready for what is expected to
be one of the most important debates of this legislative session," AP reported. LINK
Senate
Lawmakers Keep Expenses Off-Line Lawmakers
have demanded greater openness from companies receiving government
bailouts but have yet to release online or electronic versions of their
own office expenditures -- including taxpayer-funded tabs for leased
cars and staff retreats at hotels. House and Senate lawmakers are given
an annual allowance of $1.3 million to $4.5 million to run their
offices. Most is spent on staff salaries, but money is also used for
official equipment, office supplies and travel, The Wall Street Journal reported, LINK
State Budget Democratic leaders in the Vermont House are taking a two-track approach
to tomorrow's special legislative session on the state budget. They're
working to persuade House members to override Gov. Jim Douglas'
promised veto of the 2010 state budget. At the same time, they're
trying to negotiate a last-minute agreement with the administration to
avoid a veto showdown, The Associated Press reported. LINK
Heavy Winds Batter Northern Vermont Cleanup crews are busy around the northern half of
