Senate bill to rein in energy market speculation moves forward

On Tuesday, the Senate voted to proceed with a bill that would order the Commodity Futures Trading Commission to eliminate excessive petroleum and natural gas speculation by limiting trading in those markets. The next vote on the bill is set for Thursday, but some believe that Republicans may block the measure due to its lack of provisions to allow domestic drilling. Meanwhile, a report from a federal task force headed by the Commodity Futures Trading Corporation in conjunction with the Federal Reserve, Treasury and other agencies attributes energy price increases to fundamental market factors, rather than to speculative market activity.

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