Report questions CFTC speculation investigation

Testifying in front of a US House of Representatives committee in 2008, then chairman Walter Lukken said CFTC analysis found no direct evidence that speculation had driven commodity prices, which reached a peak of $147 per barrel in July of that year. However, the Commission's research methods were possibly flawed, according to a report by Kenneth Medlock and Amy Myers Jaffe of the James A. Baker III Institute for Public Policy, Rice University.

The report said that the time-series techniques

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