Page 11 - Oil Speculation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Their function in life is not to purchase oil, not to use oil, as an end user, they are not in the trucking business, not in the airline business, their sole purpose is to speculate and drive prices up, that is what they are doing right now. >> so how important is it to crack down on this oil speculation and of course the republicans are trying to stop the rule that is going to go in effect in october. we need it to go in effect right now you'll never get it from the right. is this the key senator? >> it's one of the keys. the dodd-frank financial reform bill stipulated that the commodities fu...

The real culprit behind high gas prices, oh, those wonderful speculate tors on wall street. oil speculation, that's it. congress and peter welch says speculation adds 56 cent as gal-to the price of gas. part of the dodd-frank act limits speculation in the energy markets. republicans in congress are trying to block the rule from going in effect in october. joining me now is senator bernie sanders of vermont. good to have you with us. >> good to be with you. >> if i said anything wrong i want you to correct me. >> i don't think you have. here's the interesting point. most people think that oil p...

>> so how important is it to crack down on this oil speculation and of course the republicans are trying to stop the rule that is going to go in effect in october. we need it to go in effect right now you'll never get it from the right. is this the key senator? >> it's one of the keys. the dodd-frank financial reform bill stipulated that the commodities future trading commission is obligated to come up with rules, strong rules to limit speculation. you know what, they were supposed to have done this months and months ago, they still haven't done it, and that is a demand that we have got to mak...

Volume coming out of domestic spruction here in the united states. it's all supply and demand, bill. >> bill: that's going to be a long long process. >> it does take a long time. you are absolutely right. >> bill: the mayor couldn't answer et question with all due respect. is he a good guest. we are happy to get him on. couldn't answer. he says president obama's policies about oil have been very effective i said okay, i'm a simple man, colmes, not as simple as you but it's close. all right? so why am i paying record oil prices, gasoline prices if his policies are working so well? >> i'm not sa...

Volume coming out of domestic spruction here in the united states. it's all supply and demand, bill. >> bill: that's going to be a long long process. >> it does take a long time. you are absolutely right. >> bill: the mayor couldn't answer et question with all due respect. is he a good guest. we are happy to get him on. couldn't answer. he says president obama's policies about oil have been very effective i said okay, i'm a simple man, colmes, not as simple as you but it's close. all right? so why am i paying record oil prices, gasoline prices if his policies are working so well? >> i'm not sa...