Bill Boosts Resources for Oil-Futures Monitoring

  • Playlist
  • Download
  • Embed
    <iframe src="http://www.npr.org/player/embed/91461760/91461512" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

New legislation proposes giving the commission that monitors the sale of oil futures more money, more manpower and more detailed information. With oil still trading well above $130, some lawmakers think the high prices aren't just about high demand; they think speculators are to blame.


Just across the street from the Supreme Court, Congress is focused on a less lofty issue that nevertheless affects many people: high oil prices. Oil is still trading well above $130, and some lawmakers think the high prices are not just about high demand. They think speculators could be partly to blame.

Some lawmakers want to give more power to a commission that monitors the sale of oil futures. That's the market where you can effectively bet on future prices. New legislation proposes giving that commission more money, more manpower and more detailed information. As lawmakers debate, President Bush is in Europe today and he stopped at the Vatican, where Pope Benedict made a rare gesture.

He gave the president a tour of the Vatican gardens, a spot where popes pray privately and few others enter. In these ancient surroundings, the president chose a very American greeting. He declared: Your Eminence, you're looking good.

Copyright © 2008 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.



Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from