Require the CFTC implement reforms to curb oil speculation and in turn bring down gas prices.

We know that oil prices go up with demand like all other goods. But in a May 5, 2011 hearing of the Senate Commerce Committee the CEO of Exxon/Mobil, Rex Tillerson, estimated that the real economic cost of a barrel of oil was $60 - 70. The cost at the time was around $100, with it rising up to $105 today. That means that speculation on Wall St is responsible for increasing the cost of oil by 50 to 75%! This is because the commodity futures market is an unregulated casino driving inflation and hurting the 99%. It is time we demand that Barack Obama act unilaterally and demand that the Commodity Futures Trading Commission implement rules to curb speculation and in turn lower the cost of goods, especially oil, which are slowly eating away at the 99%.