Link: Farm Bill’s Bid to Stop Oil Speculation at Emac’s Stock Watch | Fox Business.
The Commodity Futures Trading Commission says it launched a nationwide investigation last December into possible manipulation of the oil-markets.
The probe comes during an election year that has the country on high alert over record oil prices, now boomeranging over $130, a price that has doubled in the last year.
With voters taking to the roads this summer driving season, expect complaints to soar as average gas prices in a growing number of states surpass $4 a gallon. The spike in diesel costs has pounded the trucking industry and contributed to soaring food prices.
However, the $300b farm bill potentially has a fix that could help stop oil speculation. President George W. Bush may veto the bill due to pork and other concerns.
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