Crackdown on oil speculators caught up in partisan squabble

[OKIsItJustMe]

http://www.cnn.com/2008/POLITICS/07/23/congress.oil/

Crackdown on oil speculators caught up in partisan squabble

WASHINGTON (CNN) -- A partisan squabble in the Senate Wednesday threatened to sink a bill meant to crack down on oil speculators.
Speculation has contributed to 71 percent of the increase in oil this year, Sen. Byron Dorgan says.

The disagreement between Republicans and Democrats could result in Congress leaving Washington for its monthlong recess in August without passing any measures to lower gas prices as voters face over $4 a gallon at the pump.

The legislation, which was backed by the Democratic leadership, passed a key test vote Tuesday by a vote of 94-0, more than the 60 votes need for debate on the bill to proceed.

But a disagreement over the number of amendments senators can offer during the debate may prevent a final vote on the legislation from ever occurring. A vote to resolve the issue was scheduled for 5:50 p.m. Wednesday.

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