Dozens of House and Senate Democrats are blaming speculative trading in energy futures as being a major factor behind the run-up in gasoline prices. The 23 Senators and 45 Representatives have sent a letter to the Commodity Futures Trading Commission underscoring how gas prices have soared to the top of the political agenda on Capitol Hill and the campaign trail. They are asking for limits on speculative trading in energy futures markets.
The letter from lawmakers states, “It is one of your primary duties, indeed, perhaps your most important, to ensure that the prices Americans pay for gasoline and heating oil are fair, and that the markets in which prices are discovered operate free from fraud, abuse and manipulation.”
Source: NAFB News Service