The ugly Americans

In the mad rush to blame speculators for high oil prices, our solons in Washington have inadvertently revealed a U.S.-centric, 20th century mindset. I’m sure Sens. Carl Levin and Dianne Feinstein think they’re enlightened types, far beyond any sort of “ ugly American ” mentality. But that’s exactly what they betray with their notion of closing the “ London loophole .” Says Levin, “The [Commodity Futures Trading Commission] didn’t have good information about who was trading how much US oil when, and whether traders subject to US speculation limits were circumventing them by trading in London. That’s why I and my colleagues have repeatedly introduced legislation…