Speculators cost Americans $31 billion, congressman says

08/25/2008 | Huffington Post, The

Ten years ago, oil traded for an entire year within a $7 price range, writes Rep. Ed Markey, D-Mass. Today, due to the prevalence of speculators in the market, oil can fluctuate that much in a single day. Markey estimates that speculators cost Americans an extra $31 billion at the pump this summer.

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Huffington Post, The

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