U.S. Secretary of Energy Bodeman said that the reason for the increase in crude oil prices is the increase in global demand. However, most members of the U.S. Congress believe that speculation is the reason for the rise in crude oil prices and hopes that the government will take action.
Comprehensive Foreign Power reported on June 16, the United States Energy Minister Samuel Bodman (Samuel Bodman) said that the main cause of rising crude oil prices is global demand growth, rather than speculation. Global crude oil production remains at a level of about 85 million barrels per day, but demand continues to grow rapidly.
However, most members of the U.S. Congress believe that speculation is the reason for the rise in crude oil prices. Senate Majority Leader Harry Reid, a Democrat from Nevada, said earlier that he agrees with other Senate proposals and hopes that the government will allocate funds to U.S. regulators and provide more information in order to strengthen supervision over the energy trading market.
Republican Senator Kay Bailey Hutchison suggested that she may join the other Republican lawmakers to join the Democratic Party and take measures to curb speculation in the oil market.
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