Govt. Legislation in Free Markets
By David Goldman, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — Some of the Democratic lawmakers leading the campaign to crack down on oil traders appeared Wednesday before the House Committee on Agriculture to explain their proposals.
A dozen or so bills have been introduced on the subject of oil speculators, and Democratic leaders in the House have promised to address the issue by tackling what they call “excessive” speculation.
But some Congressmen are skeptical that the legislation will do any good – and could even cost consumers more by driving up the price of other commodities such as corn and soybeans.
“Given …