Congress has a super critical task before it and that is to stop the increase in the price of a barrel of oil in the commodity markets from speculators. Speculators being those individuals that buy oil future contracts in the commodity markets never to receive the oil that is the subject matter of the contract but rather only for the investment opportunity provided by buying and then selling that contract at a profit. Speculators include those investors that buy oil contracts when the price of those contracts begin to rise whether its from a political or production problem connected with an oil producing country, a drop in the dollar, etc. and in their buying along with other such investor buyers accentuate or magnify the market price increase of oil contracts to a higher degree than the negative circumstances warrant. Speculators also include those investor buyers of oil future contracts who individually or collectively with other such buyers because of the their buying power of oil future contracts and utilization of such power, that is their buying alone no other supply/demand/currency issue, can cause an increase in market prices in oil future contract prices and sometimes a quite significant increase. To get to the heart of the issue here, the public hears from the top managers of the New York Mercantile Exchange and ICE Futures Europe Exchange, the U.S. oil commodity exchanges, that if Congress passes regulation increasing the collateral or margin requirements to fifty percent from the current practice of a single digit percentage, sellers and buyers of oil future contracts will just take their business to foreign oil commodity markets outside the reach of U.S. regulation and the price of a barrel of oil will still be the same and U.S. financial markets will just have lost business. By the use of the terms collateral or margin it is meant that if an investor buys an oil futures contract worth $100,000.00 in value how much money does that investor have to pay to make the purchase of that contract, currently the standard is often a single digit percentage many in Congress want to make it fifty percent which in the instant case would be $50,000.00, which as a practical matter would have at least some dampening effect on the buying power of these speculator investors and thus have a dampening effect on their ability to drive-up oil contract prices in the market. The American public and their elected leaders have to keep in mind that what these NYMEX and ICE Futures managers and the investors they advocate for are saying with their proclamations dont increase the collateral or margin requirements otherwise massive amounts of oil futures trading will just move to foreign commodity markets is that large scale speculative oil trading is going to continue no matter what the U.S. government does and the U.S. government cant do anything about it and is not going to be able to protect American consumers and for that matter world-wide consumers from this harm. To borrow a famous reply from an heroic U.S. general in the Battle of the Bulge during World War II when asked to surrender, the American people and Congress should tell these Financial Market pariahs Nuts. The Congresss position should be come hell or high water this speculation harm is going to stop. One course of action Congress could take is to enact legislation increasing the margin to fifty percent and to reduce the harm from this speculative oil trading just moving to foreign markets Congress could do the following. Make it a crime for any U.S. citizen or U.S. business to buy oil future contracts in any foreign commodity market throughout the world in violation of this fifty percent margin requirement. Moreover, for any non-U.S. citizen or non-U.S. business that buys oil futures contracts in foreign commodity markets in violation of this fifty percent margin requirement the Congress should ban such a person or business from be able to participate in U.S. securities (stocks and bonds) and commodity markets for a period of ten years after that unlawful buy and if at the time of the unlawful buy such a person or business owns U.S. securities or commodities such property will be confiscated and liquidated expeditiously regardless of any loss incurred from a speedy sale. This type of government action would surly help improve this speculation problem. Oil is to important to the U.S. and the World economies to let things continue as is; from what the worlds seen in the last six months in a real sense oil is the lifeblood of these economies, and this speculative trading is a serious blood disease which must be largely eliminated or it will cripple or kill these economies.