Tim Ryan: “And if the President wanted to have short-term impact on the cost, we have got to deal with the speculation in the…”

“And if the President wanted to have short-term impact on the cost, we have got to deal with the speculation in the commodities market. Period. Now economists are saying anywhere from 10 percent to 100 percent of the increase is from this speculation, so put that all together, and it is 40 or 50 percent of the increase. But if we take care of the speculation and the President would show Presidential leadership and come to Congress and say let's do something with the commodity prices and the futures speculation and Congress passed something on this so we can have short term, I would say, ``You know what--there's some leadership.'' Let's get that done. Let's get it through Congress. Get it through the Senate. Let's have him sign it. And let's try to reduce this cost by 40 or 50 percent. That would get us under $100 a barrel if we could reduce the increase that has happened because of the speculation. But he did not do that because a lot of what comes out of the executive branch today, Madam Speaker, is political.”