• Most Popular
  • Most Shared

Hearings planned on energy market speculation: report

NEW YORK
Mon May 12, 2008 6:09am EDT
Motorists queue to buy fuel at a gas station in Banjarmasin, South Kalimantan, Indonesia May 10, 2008. REUTERS/Stringer

NEW YORK (Reuters) - A House committee has started investigating speculation in energy markets, with plans to hold hearings in May and June, the Wall Street Journal said on Monday, citing a Democratic aide and several other people invited as witnesses.

Barack Obama

Lawmakers are aiming at hedge funds and investment banks in particular, blaming them for playing a crucial role in driving crude oil prices to record levels, the report said.

The House Energy and Commerce Subcommittee on Oversight and Investigations has scheduled a May 21 hearing on gasoline prices, which will bring up the issue of possible market manipulation, the Journal said, citing the aide and witnesses.

Representatives for the committee could not be reached immediately for comment.

(Reporting by Aarthi Sivaraman; Editing by Quentin Bryar)
Barack Obama


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets