Officials Confirm High Gas Price Investigation

U.S. Senator Maria Cantwell of Washington says federal officials have confirmed to her that they are investigating the high price of fuel. John Liebowitz, chairman of the Federal Trade Commission, told Cantwell the agency is prepared to use subpoenas to get the information they need to determine if the oil companies, refiners, or fuel vendors are breaking any laws.

Earlier, a law was passed that Cantwell sponsored that is supposed to crack down on petroleum market manipulation.

Another federal agency estimates 80 percent of the oil futures market is held by speculators.

Download Audio (MP3)