Talks on Oil-Speculation Bill Collapse

By IAN TALLEY and CAROLYN CUI Talks between Senate Democratic and Republican leadership collapsed Wednesday on a bill that would give the U.S. energy futures regulator more power to rein in speculation in the oil and gas markets. The breaking point was lawmakers' failure to agree on drilling amendments. Democratic and Republican aides say that unless a "miracle" happens in the next few days and the parties reach a surprise compromise, the bill's outlook is grim and expected to officially stall Friday. Although the bill is still being debated in the Senate, Republicans have indicated they would use a procedural tactic to prevent a final vote on the legislation if Majority Leader Harry Reid, (D., Nev.), didn't allow the GOP to offer a series of amendments to the bill that would increase domestic production. After more than a... [read full story]