Hey! anyone remember the "Stop Excessive Energy Speculation Act of 2008"????

[underpants]

While the CFTC needs to use the power it already has to regulate the commodity markets, Democrats have also sought to strengthen its regulatory abilities. In July 2008, Senate Democrats offered the S. 3268, the Stop Excessive Energy Speculation Act of 2008. This legislation would have reduced the amount of excessive speculation in the oil markets and punished price manipulation. Unfortunately, when the bill was brought to floor, obstructionist Republicans blocked the Senate from even considering it. Given skyrocketing gas prices, it is almost inconceivable that Senate Republicans would place the interests of Wall Street and big oil companies over the interests of the American people in reducing oil speculation.


http://dpc.senate.gov/dpcdoc.cfm?doc_name=fs-110-2-166