John Garamendi: “No, I don't think so because, I suspect, I'm pretty much out of time. Let us understand what is at stake here. It is the…”

“No, I don't think so because, I suspect, I'm pretty much out of time. Let us understand what is at stake here. It is the very nature of our economy to be able to survive in an era of rapid speculation that has driven up the price of oil. We know from Goldman Sachs and we know from the CEO of Exxon that some $20 of the $100-per-barrel oil price today is speculation. We can take a look at the other markets where speculation is also running rapid, and it is the Commodity Futures Trading Commission that is specifically under Dodd-Frank required to rein in the excesses of this market, to end the speculation, to ultimately make a rational market out there for the futures market. I yield back the balance of my time.”