US House passes bill to stop oil commodities speculation

10/06/2008
By a vote of 273 to 124, the US House of Representatives approved a bill Sept. 18 designed to stop excessive oil commodities speculation. The measure, which now moves to the Senate, also could bring reforms to natural gas markets, two business groups said.“This bill is just one part of a comprehensive Democratic energy plan, which includes steps to lower [gasoline] prices immediately, increased drilling for oil and natural gas, more fuel-efficient cars, and serious investment in the energy technologies of the future,” said House Majority Leader Steny H. Hoyer (D-Md.), following HR 6604’s passage. “I urge the Senate to take action so that we can get vital energy leg...

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