40th Congressional Hearing To Be Held Today On The Cause Of High Oil Prices

[babylonsister]

Congress Looks for a Culprit for Rising Oil Prices
By JAD MOUAWAD


With Americans growing angrier by the day about high gasoline prices, nobody can accuse Congress of turning a deaf ear.

On Wednesday lawmakers will hold their 40th hearing so far this year on the cause of high oil prices. Filing bills on Capitol Hill to combat the problem is becoming a cottage industry, with clever names like the Prevent Unfair Manipulation of Prices Act, or PUMP Act, and the No Excuses Energy Act.

Until recently, lawmakers had focused on the traditional suspects: oil companies and the Organization of the Petroleum Exporting Countries. But increasingly, they are casting a suspicious eye on the role of investors, including speculators, in driving up prices.

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http://www.nytimes.com/2008/06/25/business/25oil.html?pagewanted=print

[SpiralHawk]

1. "Republicon oil cronies have a divine right to massive profits. Sneer." - Republicons