Dems Seek Halt Of Oil Speculation As Gas Prices Climb

Law360, New York (March 5, 2012, 4:51 PM EST) -- Democratic lawmakers on Monday blamed Wall Street for the cost of a gallon of gas, which is steadily marching toward $4, and begged the Obama administration to curb excessive speculation in the oil markets.

The lawmakers — 23 senators and 47 members of the U.S. House of Representatives — said they believed speculation, not an increase in demand or lack of supply, has driven the price of crude above $106 a barrel and gas above $3.70 per gallon. They want the U.S. Commodity Futures Trading Commission...
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