House approves oil speculation curbs despite veto threat

09/19/2008 | · RTT News

The House ignored the threat of presidential veto Thursday in passing a bill 283-to-133 that would give the Commodity Futures Trading Commission manpower and authority to limit some trading in oil and other commodities. The Senate could pass the oil speculation bill before recessing, but the White House issued a statement saying President George W. Bush probably will veto it because there "is no verifiable evidence to conclude that oil speculators were behind the rise in oil prices."

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