Editorial: Obama is right to shine spotlight on speculators

04/19/2012 | New York Times (tiered subscription model), The

While President Barack Obama might not be able to directly influence regulators and courts, his move to draw attention to the role of oil speculation in driving up gas prices should be commended, The New York Times writes in this editorial. "Research presented in Congressional testimony, academic papers, government and private studies indicate that excessive speculation, mainly by Wall Street index-fund traders, is needlessly driving up prices, with estimates ranging up to $1 a gallon in inflated gasoline costs," according to the newspaper.

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New York Times (tiered subscription model), The

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