oil speculation

For Immediate Release

July 25, 2008

Contact: Matthew Miller, 202-485-3123

Hannah August, 202-485-3129

SUNUNU VOTES AGAINST LOWER GAS PRICES

Opposes legislation to crack down on oil speculation and market manipulation

Republican Senator John Sununu voted against a bill today to lower gas prices by curbing excessive speculation in energy markets.  Experts have noted that speculation is driving up the price of a barrel of oil, and a recent House committee report revealed that speculators – institutional investors buying contracts with no intention of taking delivery of oil – now account for 73% of all trading of crude oil contracts on the New York Mercantile Exchange, up from 37% in 2000.

Tuesday, July 22, 2008

SENATOR JUDD GREGG COMMENTS ON SENATE MOVE TO CONSIDER SPECULATION BILL

Gregg: Congress needs a balanced, bipartisan and comprehensive approach to high energy price

Washington—United States Senator Judd Gregg (R-NH) today supported the Senate’s vote to advance debate on the Stop Excessive Energy Speculation Act of 2008 (S. 3268), legislation focused on energy market speculation. The motion to invoke cloture on the motion to proceed to the bill passed the Senate by a vote of 94 to 0.

Thursday, June 26, 2008MEDIA CONTACT

Jamie Radice (202) 225-5456

Congresswoman Shea-Porter and Dozens Of Others Express Support For Speculation Legislation

Washington, DC – Congresswoman Carol Shea-Porter, along with dozens of Members of Congress, today expressed bipartisan support for legislation that will reduce speculation in the energy markets. The legislation, which was written by Congressman John Larson (D-CT), would help drive down gas prices.