"Bill to curb speculation moves forward" by Bloomberg News | July 23, 2008
WASHINGTON - Senate Democrats cleared the first hurdle yesterday for legislation that aims to curb speculation in energy markets in response to record prices.
The motion to go ahead with debate was approved 94 to 0.
"Speculation does cause some volatility in day-to-day market fluctuations of oil prices," White House spokeswoman Dana Perino told reporters. "We believe that the root cause of high energy prices is supply and demand."
So sick of White House lies; it is the dropping (temporarily strengthening) dollar, coke-sniffer!
The unanimity of the vote was "surprising," given opposition from major banks to the proposal, said Sarah Emerson, managing director of Energy Security Analysis Inc., a consulting firm in Wakefield, Mass.
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