Senator Introduces Bill To Curb Oil Speculation

Law360, New York (March 21, 2012, 5:48 PM EDT) -- U.S. Sen. Bernie Sanders, I-Vt., long a vocal critic of the oil futures market's lack of oversight, introduced a bill Wednesday that would impose a 14-day deadline for regulators to restrict speculative traders he blames for rising gas prices.

The bill would force the U.S. Commodity Futures Trading Commission to use its emergency powers to impose caps on oil futures traders to quell what Sanders calls “excessive speculation” that has skewed the marketplace, preventing it from reflecting actual supply and demand.

The legislation comes in response...
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