Look for the Democrats to attempt this maneuver...
Since gas prices are largely the result of the surging price of a barrel of crude, and that is a product of speculation in the futures market, I would expect them to propose some draconian surtax (90% or so) on profits earned from the trading of energy futures.
This would have the effect of frightening a vast number of US based speculators out of the market, and the resulting sell-off from the world’s wealthiest country would force the price of a barrel of crude to drop like a rock. The bubble will have been pricked and will deflate. This is precisely how they have blown-up markets in the past and I am surprised it is taking them so long to think of it.
Are you a singing poisonous nut?
Sorry, had to ask.
Go Bucks, class of 1988.
Easiest thing in the world to trade it in London, Rotterdam, Dubai, or Singapore.
And leave the funds overseas. Tell the tax man to go whistel for his your money.
The goobermint, if it wishes to curb speculation (which is NOT necessarily the case, BTW), can do so quite easily: simply make NYMEX and ICE raise the spec margins -- say, treble them or quadruple them. Sure, some traders would still go everseas to trade, but many/most will find something else to trade.