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Article: Effort renewed in U.S. to curb oil speculation
- Article from:
- International Herald Tribune
- Article date:
- September 12, 2008
- Author:
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Diana B. Henriques The New York Times Media Group
International Herald Tribune
09-12-2008
Effort renewed in U.S. to curb oil speculation
Byline: Diana B. Henriques The New York Times Media Group
Edition: 4
Section: FINANCE/BUSINESS
Three members of the U.S. Congress, armed with a new report that they say proves that excessive oil speculation is distorting consumer energy prices, are renewing their efforts to exclude many institutional investors from U.S. commodity markets.
Using publicly available data, the new report argues that institutional commodity investors, specifically through index funds, drive up commodity prices. It says that financial speculators create new demand in limited ...