Rank Speculation

With gas prices again on the rise, Senate Democrats have an answer. More Congressional investigations. Democrats Demand Probe Of Oil-Market Speculation (WSJ-sub req):

"I think the quickest fix is for the president's fraud task force within the Department of Justice to initiate an oil and gas market fraud investigation," Sen. Cantwell said.

"I think that they should work with the Federal Trade Commission, they should work with the Commodity Futures Trading Commission and others to get to the bottom of whether there is manipulation in the speculation of oil prices."

Sen. Klobuchar added, "we need to have the Justice Department investigate the entire state of the oil and gas industry."

I believe that the Congress has counducted several such investigations of the oil and gas industry in the last few years. Despite the fact that every single one revealed no collusion, "price gouging," or fraud occuring within the industry, this is the best (and only) answer Dems seem able to come up with. Unless you count this gem from Diane Feinsten which seems to suggest that the government should shut down the futures markets for oil and gas:

With Earth Day as a backdrop to the concern about use of fossil fuels, Sen. Dianne Feinstein (D. Calif.), said that "until we build the replacements for gasoline...there ought to be a prohibition on market speculation."

Speculation meaning people betting that oil and gas prices will go higher and then realizing gains off their investments. Yeah, shutting down futures trading will surely fix the whole rising price problem. No need to talk about little things like supply and demand when you can just look to more government intervention to solve the problem.