Jay Inslee: “when the Saudi Arabians tell you you have a problem in your oil speculation market, you've got a problem in your oil…”

“when the Saudi Arabians tell you you have a problem in your oil speculation market, you've got a problem in your oil speculation market. Now, some people have argued that a 100 percent increase in the amount of financial speculation in these markets is necessary to liquidity of the markets. Hogwash. We need more liquidity in these markets the way Iowans need more liquidity in the rivers right now. We are drowning in liquidity. There has been over 100 percent increase of this speculation going into these markets, and we have now had clear, cogent and convincing testimony this is one of the reasons for 100 percent increase in prices of oil in the last year. We have seen this movie before. It was called Enron. And my constituents saw their electrical bills go up 1,000 percent. Now, they're seeing their oil go up double per barrel in one year in this bad movie. Pass this bill.”