Bernie Introduces Oil Speculation Bill

“Sen. Bernie Sanders introduced legislation to make federal commodity regulators halt excessive oil speculation that has driven up gasoline prices. A provision in last year’s Wall Street reform law required federal regulators to clamp down on speculators, but the Commodity Futures Trading Commission has refused to do so. Partly as a result of the failure to enforce the law, the national average price for a gallon of gasoline today is $3.69 a gallon, although supplies are greater and demand lower than two years ago when prices averaged about $2.44 a gallon. Read more “