Congress cracking down on oil speculators?

Right on cue, the U.S. Congress is considering a global warming bill that contains a crackdown on oil speculators, as outlined on Sunday in the San Francisco Chronicle.
Although this kind of legislation is sure to cause heads to explode in Wichita and points south, it seems like a reasonable hedge against $4 a gallon gasoline cutting a swath through any economic recovery.

However, in a sign that the Apocalypse may be upon us, the article goes on to point out that the Saudis think the current $60 per barrel per price is too high – and may hinder any recovery from the recession.