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Energy Markets Emergency Act of 2008

Date: June 26, 2008
Location: Washington, DC
Issues: Energy Natural Resources


ENERGY MARKETS EMERGENCY ACT OF 2008 -- (House of Representatives - June 26, 2008)

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Mr. WELCH of Vermont. Mr. Speaker, as has been said, there's a number of causes for the high price in gasoline: a weak dollar, increasing demand from around the world, the failure of leadership to move into alternative energy policies. We have to focus on all of them.

But one of the reasons is rampant speculation, and the question is, will we try to squeeze the speculator or will we allow speculation to continue to squeeze the consumer?

This is a first step, where we're telling the Commodities Futures Trading Commission to do its job, determine the facts, make specific recommendations and actions on how to protect us, and incidentally, many innocent Americans have pension fund investments that are pouring into the speculative market.

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