On the recordMay 25, 2011
My colleague has made a very eloquent case with respect to how this hammers the people who need oil on a daily basis--farmers and truckers and restaurants. The Senator from Washington juxtaposed their position compared to the speculators. Those people have a lot higher tax rate, for example, than do the speculators. So there is one advantage after another that the speculators have over the people about whom my colleague and I are concerned. Is it the understanding of my colleague that the next best step to help those people and small businesses who need oil on a daily basis is to get the CFTC out of the regulatory swamp and to enact these position limits?
