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House to vote on CFTC legislation
Posted on June 26, 2008
Reuters reports: The U.S. House of Representatives is scheduled to vote on Thursday on legislation that directs the Commodity Futures Trading Commission to use all its authority to curb immediately the role of excessive speculation in energy futures markets. Lawmakers have blamed hedge funds, pension funds and other speculators for doubling the price for crude oil in the last year. The Bush administration disagrees, saying high prices are the result of world oil production not being able to keep up with growing global fuel demand. OPEC maintains that supply is ample. Click here to read an in...
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