TBO.com > News > News blog Reports
- Acting Haines City Police Chief Details Problems With Department
- Palin’s Barnyard Pardon
- Pre Thanksgiving Weekend Weather!
- Lake Effect Snow!
- Fla. Senators Make Good on World Series Bet
- Bilirakis Snags Better Capitol Hill Office Digs
- De Palma: I’m Running for Congress Again in 2010
- Hillsborough Sheriff’s Office Promotes Its Own
- Salvation Army Struggling For Donations
- Warmer Today Unless You Go North
- Cold Again!
- More Cold Temperatures
- Great American Teach-In
- Hillsborough, Pasco Open Cold-Weather Shelters
- Final Morning of Putnam’s House GOP Leadership
WASHINGTON – Sen. Bill Nelson says he’s filed a bill to block speculative trading of oil futures and other energy commodities.
The Democratic senator says his legislation would help curb the unchecked run-up in crude oil and gasoline prices.
“Clearly, unregulated speculators have bid up oil prices to unbelievable and unacceptable highs,” Nelson said today. “Congress needs to step in. We need to shine a light on all the participants and put an end to excessive speculation and any unlawful market manipulation.”
Nelson’s bill, filed late last week, comes as the oil industry and its backers in Congress have argued for more drilling on federal land including in Alaska and off the coast of Florida.
But Nelson and other opponents countered with the fact that the oil companies aren’t drilling on about 68 million acres of land they already have under lease. Furthermore, they say there isn’t enough oil in the United States to affect global prices.
Advertisement
