Oregon Public Broadcasting

Four dollar a gallon gas has got Congress so freaked out, there are more than half a dozen proposals to crack down on prices, bills blaming oil companies, bills encouraging public transit.

And Oregon Rep. David Wu has co-sponsored a bill, with Connecticut Democrat John Larson, to cut down on speculative oil trading.

Wu says the bill would stop anyone from playing the oil futures market who can't take possession of actual barrels of oil.

David Wu: “When you wind up having too many dollars chasing too few assets, the assets go up in price.”

Some analysts say the bill backed by Wu may be too restrictive, and would limit other commodity trading, but Democrats say they're determined to pass something.