The political class needed to blame somebody for the run-up in energy prices, and settled on "speculators" as the designated villains.(Snip) While some kind of crackdown on the U.S. oil futures market is inevitable after so much political agitation, Congress has begun to believe its own demagoguery. The Senate may vote on a bill this week that will drive commodities trading overseas and decrease oversight and market transparency. Call it a Sarbanes-Oxley for energy...
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Tuesday, July 29, 2008
An Energy Sarbox
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