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Discussion in financial and public policy circles appears to building regarding increased monitoring of energy markets, as well as, at minimum, inquiries into whether oil prices have been manipulated.

One group, closetheenronloophole.com - - a coalition of oil dealers (the people who deliver heating oil in trucks, etc.) and other groups - - argues that certain unregulated energy trading platforms provide an environment for what the group calls "excessive speculation and energy price manipulation."

Capitol Hill

In Washington, several lawmakers have requested inquiries of the energy markets. Among them are U.S. Senators Maria Cantwell (D-Washingotn), Dianne Feinstein (D-California), and Ron Wyden (D-Oregon), who sent a letter to the chairmen of the Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC) giving them 45 days "to develop a plan to deliver effective oversight for energy markets and implement anti- manipulation provisions."

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Is the price of oil 'artificially' high? originally appeared on BloggingStocks on Tue, 11 Dec 2007 16:16:00 EST. Please see our terms for use of feeds.

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