Oil bill to crack down on speculators

"The Republicans don't want to legislate"

Disagreements between Republicans and Democrats Tuesday threatened to kill legislation meant to crack down on oil speculators and other measures designed to reduce oil prices.

The disagreement between Republicans and Democrats could result in Congress leaving Washington for its month-long recess in August without passing any measures to lower gas prices as voters face over $4 a gallon at the pump.

The oil-speculator legislation, which was backed by the Democratic leadership, passed a key test vote Tuesday by a vote of 94-0, more than the 60 votes need for debate on the bill to proceed.

"The procedure is fine," Majority Leader Harry Reid told reporters Tuesday. "The Republicans don't want to legislate."

But a disagreement over the number of amendments senators can offer during the debate may prevent a final vote on the legislation from ever occurring.

Alaska Senator Ted Stevens describes Senator Chuck Shumer's "Stupid" statement that opening Alaska's ANWR will not reduce the price of gas at the pump for consumers.