Report on oil prices is flawed, senators say
Democratic senators say a government report issued last month on oil prices was based on flawed information. They’re asking for an investigation into the matter.
In a letter Thursday to the inspector general of the Commodity Futures Trading Commission, four senators criticized an interim study that said fundamental supply-and-demand factors were to blame for the run-up in oil prices. The study played down the role of speculation. The senators said the study was based on inaccurate data and they questioned the timing of its release free credit reports.
The study was issued a few days before the Senate voted not to move forward on legislation that would have required the commission to set limits on trading in oil markets by investors and speculators.
Filed under: economics by Forest