Senators Say Report On Oil Prices Is Flawed

By: Associated Press
By: Associated Press

WASHINGTON (AP) - 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.
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.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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