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Senators say high oil prices may reflect rampant speculation

04/14/2008
Two US Senate Energy and Natural Resources Committee members said on Apr. 3 that they will push for more aggressive financial market regulation if they don’t get a better idea of speculators’ impacts on crude oil prices.Democrats Byron L. Dorgan (ND) and Maria Cantwell (Wash.) each said the US Commodity Futures Trading Commission’s (CFTC’s) oversight still does not include transactions that occur outside regulated commodity exchanges. Deals for oil as an investment may be distorting its actual value and aggravating economic uncertainty, they warned.“These energy prices are having enormous consequences. We have people buying what they’ll never get from p...
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