Gas Prices Spiked By Speculators, Congressmen Claim

Excessive speculation in the oil futures market may be costing you 15 percent or more at the gas pump and playing a "significant" role in rising gasoline prices, according to a joint letter from 68 members of Congress that ABC News has obtained. The joint letter, which cites a recently updated report by the St. Louis Federal Reserve titled "Speculation in the Oil Market," urges immediate action by the Commodity Futures Trading Commission to install caps on the biggest traders on Wall Street,...Full Story
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