Senate Republicans preventing crackdown on oil speculators

Seems like some Americans in power do not want a clamp down on the US speculators that have forced the price of Oil up so high. The main stream media keep telling the popular that the high prices are down to high demand and stability in oil producing regions yet the facts are that it is the US speculators that were responsible for it all along and even though we now know they still don't want to stop it.

 

 

Senate Republicans preventing crackdown on oil speculators

 

23 Jul 2008

 

GOP efforts in the Senate Wednesday threatened to sink a bill meant to crack down on oil speculators. On Wednesday, Sen. Byron Dorgan (D-ND), one of the main sponsors of the bill, pleaded for Republicans to help "wring excessive speculation" from the oil markets, which he says is responsible for 71 percent of the price of a barrel of oil this year. Some analysts say speculation has added between $40 to $60 dollars to a barrel of oil.

 

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