Senator: Probe of rising gasoline prices needed

[babylonsister]

Gee, ya think?

Senator: Probe of rising gasoline prices needed
By Les Blumenthal | McClatchy Newspapers


WASHINGTON — With the price of crude oil hovering near $110 a barrel and gasoline prices at record levels, a Washington senator says federal regulators need to stop delaying and start investigating whether petroleum markets are being manipulated.

Democratic Sen. Maria Cantwell said the Federal Trade Commission should move quickly to implement a provision she inserted in a national energy bill approved by Congress late last year that gives it authority to investigate whether excessive speculation and manipulation have driven up prices.

"Their response has been tepid," Cantwell said in an interview. "They said they want to work with us, but they need to get in the game."

Cantwell said the FTC response wasn't surprising. She said she expected the agency would "run out the clock" and leave the manipulation regulations for the next administration to write and implement.

"They didn't ask for the authority and they've never been excited about it," Cantwell said. "They say they want to work with us. Given the impact on the economy, they need to get started."

more...

http://www.mcclatchydc.com/homepage/story/33406.html

[spanone]

1. i'm sure cheney's right on top of this!

:sarcasm: