Stop Oil Speculators

Skyrocketing energy costs are effecting all of us in CT, especially those of us with long commutes and who have no choice but to drive automobiles. While I feel that the ultimate solution is to develop alternative sources of energy and mass transit, we must address the problems of our current system in the interim.

As a candidate for congress I support legislation aimed at closing loopholes and reining in excessive manipulation, and possible manipulation, of the oil futures market.

The Prevent Unfair Manipulation of Prices (PUMP) Act, is a comprehensive approach to address the loopholes that allow energy traders to evade federal oversight. The PUMP Act would quickly bring down the world oil price to the marginal cost of production, which the oil industry and oil market experts believe is around $60 a barrel.

The PUMP Act would:

• Close All Oil Futures Market loopholes: Completely closing the full range of loopholes being used by oil market speculators and dark market exchanges, including the so-called “Enron loophole” including for bilateral “off-exchange” trades; the foreign board of trade (FTOB) loophole; energy swaps dealers loophole; and, the bona fide hedging exemption loophole.
• Impose Aggregate Speculation Limits: Require the Commodities Future Trading Commission (CFTC) to set aggregate position limits on energy futures contracts for a trader across all contract markets. In doing so, the CFTC will be able to better prevent traders from amassing excessively large positions in a commodity across exchanges in an attempt to play one exchange off another.
• Require Information on Index Funds: Require public monthly reporting of index fund data for anyone trading U.S.-delivered energy futures contracts or trade on U.S. computer terminals on the CFTC’s website.
• Strengthen Federal Energy Regulatory Commission (FERC) Authority: Protect and strengthen the authority given to FERC in the 2005 Energy Policy Act to prosecute manipulation in natural gas and electricity markets.

While this is just a starting point for eliminating our daily economic struggles in Eastern CT, it is a step in the right direction. Please visit www.votevachon.com and click on the issues page to learn more about this and other major issues.

TV Interview with Todd: Music & Activism

Marsh Karp interviews Todd on her West Hartford Community TV program "Camera's Rolling".
Learn about Todd's background, personal history and involvement in music and political activism. 28 min.

Dialogue With Iran

Over the past few days I have received the following letter from
many district 2 voters concerning U.S./Iranian relations:

 Mr. Vachon:

Thank you so much for committing yourself to a campaign
for the U.S. House of Representatives.

In the last few weeks, a number of prominent politicians
in both the United States and Iran have begun talking about
the possibility of a war. Yet many observers in the United
States argue that such a war would be disastrous, and that
the surest way to prevent it is through direct,unconditional
negotiations between our two countries. Do you agree with
the recent call from five former secretaries of state -
Colin Powell, Henry Kissinger, James Baker III, Warren
Christopher,and Madeline Albright - for an expanded U.S.
dialogue with Iran?

If elected, would you commit to work for direct,
unconditional,and comprehensive talks between the United
States and Iran?

I would welcome a chance to hear your views on the subject of
Iran, which could begin a public discussion. Would you
consider scheduling a public meeting in our community to
discuss these issues further? I would be happy to work
around your schedule.

Thank you for your time. I appreciate your desire to work on
my behalf and hope to hear back from you about your stance
on Iran.

Sincerely,
(names deleted)

Here was my response:

Dear _______,

Thank you for contacting me regarding
this issue of paramount importance. You're concerns are
shared with many other voters who have been contacting me
about Iran policy in the past few days.

I unequivocally agree with the calls for open dialogue
between the the U.S. and Iran. The recent rounds of saber
rattling throughout D.C. and the corporate media networks
eerily remind me of the build up to the invasion of Iraq,
a war which I opposed and protested months before it began.
As a nation,we ought to have learned historically that
violence does not solve problems of foreign relations;
rather it escalates them.

I am adamantly opposed to preemptive military strikes
against Iran or any other nation. Diplomacy must be given
a real fair shake this time and every time from now on.
The cost in American lives, the lives of innocent civilians
and the cost of U.S. tax dollars can no longer be afforded.

So yes, if elected, I would absolutely commit to
work for direct, unconditional, and comprehensive
talks between the United States and Iran.

Sincerely,

Todd Vachon
Candidate for Congress
CT District 2
www.votevachon.com