Pelosi Spokesman Statement on Leader Cantor's Promise of Higher Gas Prices

Washington, D.C. - Below is a statement from Drew Hammill, spokesman for Democratic Leader Nancy Pelosi, on Majority Leader Eric Cantor's visit to Chicago yesterday, where he promised to block key provisions of the Dodd-Frank Wall Street Reform law to an audience of executives from the CME Group. CME Group is one of the world's largest owners of private exchanges for derivatives products and specializes in trading futures for crude oil and food commodities. 

"Leader Cantor is promising American consumers higher gas prices by preventing common sense rules of the road for the oil speculators who are making money hand over fist.  Even worse, House Republicans are legislating on behalf of these special interests: voting to cut funding to the Commodity Futures Trading Commission, the agency charged with cracking down on oil speculation, and then protecting tax breaks for Big Oil.

"Leader Cantor and his Grand Oil Party should drop their allegiance to Big Oil and speculators, and fight on behalf of American consumers."