Political Quotes

On the recordJune 14, 2011
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.
Said by
John Garamendi
Democratic · California

Share

More from John Garamendi

Jun 18, 2026

Given the tremendous potential costs of a Golden Dome system, and the fallacy that it could shield the United States from a significant missile attack, the American people deserve answers.

garamendi.house.gov
Jun 23, 2026

We write to request that you immediately authorize the release of $32.2 million from the Commodity Credit Corporation (CCC) to address the time-sensitive threat posed to the wine, winegrape, and table grape industries from Glassy-Winged…

garamendi.house.gov
Jun 27, 2026

OMB’s guidance would provide little recourse to people subject to political retribution.

garamendi.house.gov
Jun 10, 2026

You could say I'm surprised, but how can I be when the President himself says he doesn't ‘think about Americans’ financial situation’?

garamendi.house.gov

Other voices in this conversation