Senator Blumenthal Calls for DOJ Investigation into Oil Speculation, Potential Criminal Wrongdoing

(Hartford, CT) – Senator Richard Blumenthal (D-CT) today reiterated his call for strong investigatory action on whether potentially illegal practices might be driving up gas prices in Connecticut and across the country, creating additional hardship for millions of families and small businesses already struggling as the economy continues to recover.

“I commend and applaud the President for focusing on this issue,” Blumenthal told Bob Schieffer on CBS’ “Face the Nation” on Sunday. “There really needs to be an investigation involving… subpoenas and compulsory process. There needs to be very possibly a grand jury to uncover the potential wrongdoing.”

“The Justice Department should take the lead, seize this moment, and send a message – a very strong deterrent message – that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” Blumenthal continued. “The indicia of potential illegal activity, whether civil or criminal, I think certainly justify the Department of Justice investigation immediately and comprehensively right now.”

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