Republicans should join Democrats in stopping oil speculation

07/21/2008 |

Political consultant Dick Morris examines the history of oil speculation, noting that Republican Presidents Ronald Reagan and George H.W. Bush supported limits on trading oil futures throughout their presidencies. Brokerage houses sidestepped U.S. regulations by setting up trading on foreign exchanges such as the London exchange, and the total traded in oil futures has soared from $13 billion in 2003 to $260 billion today.

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