Congress launches hearings to untangle web of bills aimed at curbing speculation

摘要

Almost immediately upon returning from its Independence Day recess, Congress launched the first of a three-day series of hearings Wednesday in an effort to untangle the array of bills intended to curb activities of speculators in energy and agricultural markets and potentially bring down soaring commodity costs.rnThe discussions, which continue Thursday and Friday, are slated to address a number of House-introduced proposals torntighten the Commodity Future's Trading Commission's oversight of speculation, including raising margins, closing a so-called foreign board of trade loophole or banning certain groups from trading commodities.rnLawmakers speaking before the first hearing of the House Agriculture Committee Wednesday generally agreed that excessive speculation should be reined in but took varying approaches in their ongoing efforts to bring energy prices down for consumers.