Duluth News Tribune: Our view: Applause for efforts to ease pain at pump

With gas prices sprinting toward $4 a gallon — and probably going higher — Minnesota’s U.S. Sen. Amy Klobuchar got to wondering: Can we limit excessive price speculation in the oil markets like we attempted in 2008, the last time gas prices spiked? Congress responded then with measures to rein in the sort of speculating by hedge funds, investment banks and other financial entities that artificially and unfairly inflates gas prices.

Yesterday, at a busy gas station in Minneapolis, Klobuchar answered that question: Yes, we can. Or, at least we can try. She announced a letter she sent to the U.S. Commodity Futures Trading Commission urging immediate action.

A letter? Big deal, right? Well, this letter carries a little weight. Klobuchar, in addition to being a U.S. senator, serves on the Senate Agriculture Committee, the very committee that oversees the Commodity Futures Trading Commission.

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