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October 10, 2012

March 21, 2012 – House Natural Resources Committee hearing entitled "Harnessing American Resources to Create Jobs and Address Rising Gasoline Prices: Families and Cost-of-Life Impact."

Gasoline Prices are the highest ever recorded in the month of March. In this hearing the Natural Resources Committee examines the Administration’s energy policies.

Three pro-industry witnesses argue that the United States should take every step to increase domestic gasoline production but Dennis Kelleher, President and CEO of Better Markets, looks at the role of the commodity markets in the formulation of gasoline prices. Dennis tells the policymakers they need to remove excess speculation in the market since it is causing as much as 25% of the current rise in gasoline prices. The principal way to accomplish this would be to ban commodity index funds.

Congressional Activities

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