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Phil Picardi

Klobuchar looking to rein in speculators, reduce the price of oil

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In an effort to curb rising gas prices, U.S. Sen. Amy Klobuchar, DFL-Minn., has introduced legislation to limit excessive price speculating in the oil futures market. But will the proposed measures really have an effect at the pump?

For another look at this issue MPR's Phil Picardi spoke with Jim Ulland. Ulland is a former Republican state lawmaker and was Commerce Commissioner during the Carlson administration. He's now President of Ulland Investment Advisors.