To: Wall St. Oil Speculators, President Donald Trump, and The United States Senate
Stop Oil Speculators from inflating gas prices
Gas prices most places are pushing $4 a gallon - again. And news reports say it could be $5 or more by summertime. That’s outrageous – and unjustified.
Every time we’re faced with this international uncertainty, especially in the Middle East, we’re reminded why we must get off of foreign oil. Nothing’s going to eliminate the volatility in oil prices like becoming less dependent on foreign energy sources.
I support Senator Bill Nelson and Jay Rockefeller in their efforts to curb the activities of speculators.
Congress should pass legislation that aims to drastically limit the ability of speculators to artificially drive up energy prices. The chief cosponsor of my bill is Sen. Jay Rockefeller (D-WV).
Why is this important?
Gas prices most places are pushing $4 a gallon - again. And news reports say it could be $5 or more by summertime. That’s outrageous – and unjustified.
I think Congress should pass legislation that aims to drastically limit the ability of speculators to artificially drive up energy prices. If this bill passes, there would be the first-ever limits on how much of the oil market speculators can control. The chief cosponsor of my bill is Sen. Jay Rockefeller (D-WV).
Plain and simple: this legislation says no single investor could hold more than 5 percent of the oil futures market, thereby greatly reducing speculators ability to manipulate prices.
See the bill at http://email.capitolhillnewsonline.com/q/nncAMtDkxkUBk3apm0PdgX5Dx2CwvaXFvmTLRh7nSCNC18qGD_ERkedqf