The Senate Agriculture Committee held a hearing Wednesday, examining how new CFTC rules and biofuels can help address high gas prices. In opening the hearing, Chairwoman Debbie Stabenow said spikes in gas prices are - squeezing farmers and middle class families - and could be putting as many as 600-thousand jobs at risk. She pointed out - when businesses pay more for fuel, they are unable to hire and retain employees – a dangerous place to be in this fragile economic recovery.
Senator Stabenow reiterated the need to implement - tough new rules to stop abuses and manipulation - and to make certain the - CFTC has the tools and resources it needs to protect American consumers from oil prices when they are out of line with market fundamentals.
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