Republicans and Democrats both see a need for new energy market rules (AGM, 21 July, p2). "Speculators, not the laws of supply and demand, are driving up prices," Democratic senator Byron Dorgan said on 21 July. And a proposed speculation bill "should immediatelytower prices", Senate Democratic leader Harry Reid said on 22 July. Senate Republican leader Mitch McConnell said on 21 July that "strengthening regulation of the futures market is a worthwhile piece of any legislative effort." But the parties cannot move past political manoeuvring to enact legislation.
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