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July 21, 2008 - by Donny Shaw

Sounds like Senate Republicans are backing off their insistence on drilling and may actually help Democrats pass a bill to crack down on excessive speculation in oil markets.

According to The Hill, the Democrats’ position on this is that if Republicans don’t help them pass the speculation bill, they won’t even consider a vote on drilling as part of a larger energy package in the near future.

Click here for Harry Reid’s rundown of what the oil speculation bill would do.

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