Oil speculation is only PART of the problem! INFLATION is the BIGGEST cause for our current gas prices!
A barrel of oil is selling for about $102 - which is only about $20 more than when Obama took office! This Administration has printed money at such a rate that the American dollar is not as valuable and oil is traded in American dollars!
This attempt to regulate speculation is nothing more than a ploy and distraction and BS! He is trying to act like he is doing something - and he already has - he created the INFLATION!
As a good comparison, when gas was over $4.00 a gallon under Bush in 2008, a barrel of oil was $145!