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Franken Calls For Oil Speculation Regulation

March 21, 2012, 6:11 PM

Franken Calls For Oil Speculation Regulation
WASHINGTON -

All of the speculation about oil prices could be costing you more money at the pump.

A new report that says expert opinions add up to $0.56 per gallon.

A group of lawmakers, including Minnesota Senator Al Franken, says it needs to stop

"we think of this as an emergency. We think there is a dysfunction in the market right now.  And the dysfunction is that two-thirds of the market is oil speculators and that is a reverse of how it usually is," Senator Al Franken said.

Franken introduced legislation Wednesday calling on the Commodity Futures Trading Commission to take action and eliminate excessive speculation and unreasonable fluctuations within the next two weeks.

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