We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Witnesses Defend Oil Speculation At Senate Hearing

Law360 (April 3, 2008, 12:00 AM EDT) -- Various oil-industry-related parties took the stage on Thursday morning to convince the U.S. Senate that oil prices, which recently broke the $110 per barrel mark, were not related to rampant speculation on oil futures.

Witnesses, including the chief economist of the Commodity Futures Trading Commission and the managing directors of highly influential energy consulting companies, stood before the Senate Committee on Energy and Natural Resources to examine the influence of noncommercial investors on the price of oil.

For the most part, the witnesses argued that traders...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.