On the recordJuly 25, 2012
I just want to say to my friend that if the Commodity Futures Trading Commission isn't really sure of the impact of speculation, I have 100 different studies here--100. And if you would like, if you have a budget for copy, we'll be glad to bring it over to the CFTC so they can see that speculation is undermining markets and undermining consumers. Also, none other than Goldman Sachs did a study on the impact of speculation. If you translate their study, our constituents are paying a 56-cent-per-gallon increase on the price at the pump for speculation. Stick `em up? No. We have to make sure that we hold the speculators to an accountability, and particularly in oil markets. I ask everyone to support this amendment, something we should be able to agree on on a bipartisan basis. I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Ohio (Mr. Kucinich). The question was taken; and the Acting Chair announced that the noes appeared to have it.
