Senator Sherrod Brown outlines plan to crack down on oil speculation

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Senator Sherrod Brown outlines plan to crack down on oil speculation

WEWS – CLEVELAND HEIGHTS, Ohio – Senator Sherrod Brown (D-Ohio) held a press conference on Sunday afternoon announcing a plan aimed at lowering gas prices for consumers by cracking down on oil speculation.

“Rapidly rising gas prices are boon for big oil companies and hedge funds but a bust for Ohio families, truckers, and small business owners. In the last three months, we’ve seen how excessive speculation has driven the price of oil contracts through the roof,” Brown said. “This speculation has a dire effect on our economy—higher prices at the pump for commuters driving to work or parents taking their kids to school, and higher operating costs for truckers and small business owners trying to stay afloat.”

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