7/28/2008

Sens. Joe Lieberman, I-Conn., Susan Collins, R-Maine, and Maria Cantwell, D-Wash., assert their support of the Commodity Speculation Reform Act, citing excessive speculation in the oil markets as one factor driving up fuel costs. "Speculators are overwhelming our commodity markets and leading to substantial increases in food and energy prices for years to come," they write in an editorial in the Financial Times. According to the Air Transport Assocation, every $1 increase per barrel of oil translates to $470 million in jet fuel costs.

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